MACRO ECONOMIC NEWS

THE DIVINE POWER IS IN POWER-PLAY MODE; TRUST, HE IS PLAYFUL. WISHING A LIBERATING DAY AHEAD.

Macro Economic News 31 Oct 2019

 

India plans to invest Rs 1 trillion in setting up 100 new airports by 2024. The Federal Reserve cut interest rates for the third time this year to help sustain U.S. growth despite a slowdown in other parts of the world, but signaled there would be no further reductions unless the economy takes a turn for the worse. US GDP rose at an annual rate of 1.9%, with consumer spending and housing investment offsetting a business-investment drop. Leaders from the United States and China encountered a new obstacle in their struggle to end a damaging trade war, when the summit where they were supposed to meet was cancelled because of violent protests. Negative interest rate scepticism grows at the European Central Bank. Brazil to extend rate cuts with easing cycle at cruising speed. Turkey to make clear how much wiggle room remains to cut rates.

 

FINANCIAL TIMES

[I]  Fed delivers third rate cut but signals it is done for now

[I]  China manufacturers divert cash into financial products

[I]  Denmark gives green light to Russia-Germany gas link

[I]  French economic growth beats expectations

[I]  US growth rate eases to 1.9% in the third quarter

[I]  Lagarde hits out at Germany and Netherlands on spending

[I]  Opposition rift highlights S Africa’s race inequality

[I]  China’s largest private investment group to cut salaries

 

REUTERS

[I]  Dollar slips after Fed cuts but indicates a pause; BOJ decision eyed

[I]  U.S. SEC considers relaxing post-crisis structured mortgage product rules

[I]  China's service sector activity grows at slower pace in October - official PMI

[I]  China October factory activity shrinks for sixth month: official PMI

[I]  U.S. Fed cuts interest rates, signals it is on hold

[I]  Japan September factory output rebounds, but risks cloud outlook

 

BLOOMBERG 

[I]  Janus Sees 2% U.S. Yields in Weeks; Fidelity Also Sees Gains

[I]  How Long Will It Take Hong Kong to Bounce Back From Recession?

[I]  Consumer Confidence Slumps to Six-Year Low as Britons Fret About Finances

[I]  Negative Interest Rate Skepticism Grows at the European Central Bank

[I]  Powell Signals Fed Policy on Hold as Economy Eyes Soft Landing

[I]  Brazil to Extend Rate Cuts With Easing Cycle at Cruising Speed

[I]  Turkey to Make Clear How Much Wiggle Room Remains to Cut Rates

[I]  Powell’s Inflation Focus Means Big Pause on Rate Hikes

 

WALL STREET JOURNAL

[I]  Fed Cuts Rate for Third Time This Year, Signals Pause

[I]  Fed Rate Cut Generates Dissents From Two Fed Officials

[I]  Parsing the Fed: How the October Statement Changed From September

[I]  U.S. Growth Settles in at Low Gear in Third Quarter

[I]  What Is Driving The Economy—Before Trump and Now

[I]  Trump’s Tax Cut Underdelivers, Which Could Embolden Democrats

[I]  Treasury Exploring New Debt Products, Including 20-Year Bond

 

BUSINESS LINE

[I]  Fear-psychosis around FTAs must be overcome: Goyal

[I]  Govt will weigh all aspects carefully before signing pacts, says Commerce Minister

[I]  Cyclone 'Maha' spins up over Lakshadweep; to become very severe cyclone

[I]  Resolution of stressed thermal assets slow: ICRA

[I]  With no official data, India is in dark about poverty numbers

[I]  Foreign airlines operating in India offer 5.8 lakh seats this winter

[I]  Better farming practices fetch more money for Jharkhand women

 

ECONOMIC TIMES

[I]  Govt to build 100 new airports in 5 years

[I]  Is India missing its chance to regain growth?

[I]  Indian IT cos worst hit by H-1B rejections

[I]  Employment up but the devil is in the detail

[I]  Brave new world: US Budget deficit almost $1t; BGMI to gold ratio lowest in 78 years

[I]  US Treasury yield curve flattens after Fed cuts rates

[I]  Regulator weighs moving to gas entry-exit tariff model

[I]  Consumer loans growing but some vintage loans indicate higher risk: CIBIL

[I]  Indian, Chinese economies to accelerate in Q4, says report

[I]  Revenue concerns for the government make immediate tax cuts tough

 

BUSINESS STANDARD

[I]  Food grain may be brought under GST, tax mechanism likely to be rejigged

[I]  AIF industry eyes Rs 2.9-trillion opportunity in cash-strapped firms

[I]  India Inc spent more on R&D in FY19, auto and pharma leading sectors

[I]  Loans disbursed by NBFCs remain under stress, says CIBIL report

[I]  Private sector players to add steam to eastern dedicated freight corridor

[I]  Two years on, debt resolution of first dozen firms still not complete

[I]  Multiplexes' revenue from convenience fee rises as online ticket sales grow

[I]  India to invest Rs 1 trillion in setting up 100 new airports by 2024

 

MARKETS (08:00 am) 

[I]  SGX NIFTY Fut: 11893;  USDINR DGCX: 71.0375;  DJIA Mini: 27151;  FTSE 100 Fut: 7303;  NIKKEI 225 Fut: 22920;  EUR-USD: 1.1167; Crude Oil (WTI): 55.20;  Gold (Spot): 1498

 

Best Regards, ARBIND
31 Oct 2019