MACRO ECONOMIC NEWS

THIS DAY IS EMPOWERING EMPATHY TO EVERYONE. WISHING A COMPASSIONATE DAY AHEAD.

Macro Economic News 17 Oct 2019

 

India halved its poverty rate since 1990s: World Bank. Britain and the European Union were on the verge of a last-minute Brexit deal but Prime Minister Boris Johnson still has work to do at home to ensure his government and factious parliament approve the plan. Events in the week show that the two economic superpowers, though reaching a truce in their trade war, are drifting closer to a new Cold War. American shoppers pulled back on spending, signalling a key support for the U.S. economy this year could be softening amid a broader global economic slowdown. The central bank is buying short-term Treasury debt, but officials say the purchases are nothing like the bond-buying stimulus unleashed by the central bank between 2008 and 2014 to support the economy. Eurozone inflation rate drops to three-year low as outlook darkens. Brazil central bank chief vows to ‘reinvent’ economy. Australia unemployment rate dips; still long way to go. Low interest rates fuel financial risk-taking, IMF warns.

 

FINANCIAL TIMES

[I]  Hong Kong’s rich open foreign bank accounts amid unrest

[I]  Austria’s far-right rocked by tensions after poll drubbing

[I]  China’s cash injection highlights policymaker concerns

[I]  Low interest rates fuel financial risk-taking, IMF warns

[I]  Hong Kong chief Carrie Lam says city is in ‘recession’

[I]  Brexit negotiators wrangle over deal terms

[I]  US retail sales fall by the most in seven months

[I]  Eurozone inflation rate drops to three-year low as outlook darkens

[I]  Brazil central bank chief vows to ‘reinvent’ economy

[I]  EU risks trade fight over carbon border tax plan

[I]  South Korea cuts rates to record low to boost growth

 

REUTERS

[I]  Gold steady as disappointing U.S. retail sales weigh on risk appetite

[I]  Dollar, pound tread water; Aussie bolstered by jobs report

[I]  World Bank likely to cut global growth forecasts again: Malpass

[I]  Australia unemployment rate dips, still long way to go

[I]  U.S. diplomats, Congress take aim at China; Trump expects trade deal signing

[I]  Southeast Asia's mobile payments face shakeout as market booms

[I]  Weak U.S. retail sales cast shadow over slowing economy

 

BLOOMBERG 

[I]  What to Watch in China GDP Report: Investment, Trade and Savings

[I]  Hong Kong’s Economy Is Failing. Here’s How It Could Be Saved

[I]  Hedge Fund’s Liquidity Crisis Spurs Contagion Fears in Korea

[I]  China Office Vacancies Reach Decade High on Slowing Economy

[I]  ‘Trade for Free’ Offer Aims to Lure Rupee Trading Home to India

[I]  Everyone Backs Budget Spending Except People Who Control Budgets

[I]  IMF Will Include Climate in Country Analysis, Georgieva Says

[I]  Japan Extends Lead on China as Top Foreign Holder of Treasuries

[I]  Fed's Brainard Views Cost-Benefit of Negative Rates Unattractive

 

WALL STREET JOURNAL

[I]  Despite Trade Truce, U.S.-China Cold War Edges Closer

[I]  U.S. Retail Sales Fell in September

[I]  Fed Is Buying Treasurys Again. Don’t Call It Quantitative Easing.

[I]  Germany’s Central-Bank Chief Warns of U.S.-Europe Trade-War Dangers

[I]  Questions Cloud China’s Commitment to Farm Purchases

[I]  Newsletter: World Economy Heading for Worst Year Since Financial Crisis

 

BUSINESS LINE

[I]  Fundamentals of economy ‘very very strong’: CEA

[I]  India’s aim of being a $5-tn economy is ‘challenging’ but ‘realisable’: Sitharaman

[I]  India’s fuel demand dips to lowest in over two years

[I]  ICRA revises outlook for one-third of wind, solar projects, sees near term headwinds

[I]  North-East monsoon arrives, heavy rain forecast for Tamil Nadu, Kerala, Karnataka

[I]  How the monsoon’s delayed withdrawal from India may cause havoc in Australia

[I]  Livestock population in India rises 4.6 per cent to nearly 536 million, shows census

[I]  Commercial credit growth registers a marked slowdown in Q1

 

ECONOMIC TIMES

[I]  India's falling credit growth dims hope of economic rebound

[I]  India's falling oil demand adds fuel to slump fire

[I]  Sterling gives up some gains as Brexit optimism curbed

[I]  FIEO delegation to explore business opportunities in Africa

[I]  IMF urges largest economies to be prepared to engage in coordinated policy action

[I]  India halved its poverty rate since 1990s: World Bank

[I]  India-bound FDI may face thorough frisking

 

BUSINESS STANDARD

[I]  Cross-bred, female cattle population on the rise: Livestock census

[I]  Rs 75,000-crore minimum alternate tax credit dilemma grips India Inc

[I]  Govt to bring back FRDI Bill, may hike insurance cover of customers

[I]  India cannot sacrifice economic strength to comply with US sanctions: FM

[I]  Tour operators promising guaranteed departures, low cancellation charges

[I]  Automobile slowdown: Number of vehicles crossing toll gates slowing

[I]  Sale of durable products yet to pick up beyond major urban conglomerates

[I]  Entry-level, premium bikes buck trend by reporting growth amid slowdown

[I]  States put the foot down on capex; outlays up 17% during FY15-19

[I]  Southern cities feeling the heat of residential slowdown, says report

[I]  Fundamentals of economy 'very very strong', says CEA Subramanian

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11492;  USDINR DGCX: 71.4850;  DJIA Mini: 26940;  FTSE 100 Fut: 7151;  NIKKEI 225 Fut: 22490;  EUR-USD: 1.1078; Crude Oil (WTI): 52.93;  Gold (Spot): 1488

 

Best Regards, ARBIND
17 Oct 2019