MACRO ECONOMIC NEWS

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Macro Economic News 29 Oct 2019

 

EU agrees Brexit delay as British parliament blocks December election. Prime Minister agrees to Brexit ‘flextension’ until January 31. The Federal Reserve’s interest-rate cuts appear to be giving a lift to housing, autos and big-ticket items like appliances while delivering less of a boost to companies.  Chinese investors are pressing ahead in Silicon Valley, putting money into startups and venture-capital funds—moves that highlight the resilient relationship with American entrepreneurs amid broad U.S. efforts to limit foreign access to technology deals.  Lebanon's central bank governor said a solution must be found in days to a crisis unleashed by huge protests against the ruling elite, saying this would restore confidence and avoid any future economic collapse. Central Europe braces for effects of German slowdown. Tokyo inflation remains stagnant after Japan's Oct sales tax hike. Hong Kong enters recession, official says, as protests again erupt in flames. Singapore’s Labor Market Is Showing Strain as Economy Slows. Argentinian Central Bank Interventions Aren’t Sustainable. Venezuela defaults on its last bond, setting up legal showdown.

 

FINANCIAL TIMES

[I]  Draghi calls for policymaker unity in ECB swansong

[I]  Argentina’s Peronists return to power as Macri concedes defeat

[I]  Central Europe braces for effects of German slowdown

[I]  Prime Minister agrees to Brexit ‘flextension’ until January 31

[I]  Global investment plunges as trade disputes take toll

[I]  Pension funds need to make the case against negative rates

 

REUTERS

[I]  EU agrees Brexit delay as British parliament blocks December election

[I]  Tokyo inflation remains stagnant after Japan's Oct sales tax hike

[I]  Asia shares reach three-month peak as risk embraced

[I]  Trade optimism supports dollar vs yen; Fed awaited

[I]  Lebanon's central bank urges quick solution to avoid future collapse

[I]  Japan, South Korea reject report of WWII forced labour economic plan

[I]  China lifts yuan midpoint to strongest level in over two months

[I]  Hong Kong enters recession, official says, as protests again erupt in flames

 

BLOOMBERG 

[I]  China Corners Bond Bulls as $35 Billion in Funds Reach Maturity

[I]  China Tech, at Center of Trade War, Is Best Place for Bonds

[I]  Johnson Bid for Election Defeated in Parliament: Brexit Update

[I]  Hedge Funds Fight for Asia Talent by Boosting Bonuses, Training

[I]  Largest China Convertible Bond Sale Draws $1.1 Trillion in Bids

[I]  Hong Kong Bank Profits Seen Falling 67% in JPMorgan's Worst Case

[I]  Singapore’s Labor Market Is Showing Strain as Economy Slows

[I]  Argentinian Central Bank Interventions Aren’t Sustainable

[I]  Venezuela Defaults on Its Last Bond, Setting Up Legal Showdown

 

WALL STREET JOURNAL

[I]  U.S. Factory Slump Shows Manufacturing Isn’t the Bellwether It Used to Be

[I]  Economy Week Ahead: Economic Growth, Fed Statement, Jobs Report

[I]  Housing Highlights Promises, Limits of Fed’s ‘Insurance’ Rate Cuts

[I]  China Investors Keep Making Deals in Silicon Valley Amid Pushback

 

BUSINESS LINE

[I]  RCEP deal: Japan tries to convince China to relax demands on India

[I]  Sections of Indian industry, farmers and dairy sector have expressed concerns over the mega trade deal

[I]  India’s organic products exports surge by 50 per cent in 2018-19: APEDA

[I]  Revised draft Seeds Bill goes soft on compensation issue

 

ECONOMIC TIMES

[I]  It's time to hike the deposit insurance cover

[I]  WTO to decide on India’s retaliatory tariffs

[I]  UPI set to go global after hitting billion mark

[I]  Black pepper prices lowest in a decade

[I]  Erratic payments from Iran put commodity exporters in a fix

[I]  Euro naysayers see gloom for currency as Draghi bows out

[I]  Bond market sees stability before series of chaotic events

 

BUSINESS STANDARD

[I]  Govt likely to reject telcos' demand for 2-year spectrum fee moratorium

[I]  FIIs trim their holdings in 12 private banks in second quarter of FY20

[I]  Agile, but not fragile: How business can strike the right balance

[I]  Deep discounting not part of ease of doing business, govt tells e-tailers

[I]  Housing finance companies' gross non-performing assets up 2.2%: Icra

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11678;  USDINR DGCX: 70.7775;  DJIA Mini: 27064;  FTSE 100 Fut: 7314;  NIKKEI 225 Fut: 22980;  EUR-USD: 1.1099; Crude Oil (WTI): 55.74;  Gold (Spot): 1493

 

Best Regards, ARBIND
29 Oct 2019