MACRO ECONOMIC NEWS

THIS WEEKEND WILL MARK A LASTING IMPACT IN LIFE; MAKE IT IMPACTFUL FOR OTHERS TOO. WISHING AN AMAZING WEEKEND AHEAD.

Macro Economic News 12 Oct 2019

 

India's industrial output shrank at its fastest rate in more than six years in August, reflecting the impact of an economic slowdown that could prompt the central bank to cut its key policy rate for the sixth time in December. U.S. consumer sentiment unexpectedly rises to three-month high. The biggest U.S. banks are expected to kick off the earnings season on a sour note next week due to falling interest rates, which may have pressured net interest margins enough to cause the sector's first year-over-year earnings per share decline in three years. U.S. President Donald Trump sounded an optimistic note on Friday as high-level trade talks with China entered a second day, while Beijing indicated it was open to a “partial” deal that would avoid a planned hike in tariffs on its goods this month. The Federal Reserve said it would begin buying Treasury bills on Tuesday to boost its balance sheet and avoid a recurrence of the unexpected strains experienced in money markets last month. Global risk 'confluence,' as tariffs, Brexit, weaker forecasts collide. Yield Curve Recession Signal Fades as Haven Sell-Off Deepens.

 

FINANCIAL TIMES

[I]  Brussels to hold intensive Brexit talks with UK

[I]  Climate protest group sees surge in funding as it goes global

[I]  US agrees limited trade deal with China

[I]  Global economy is at risk from monetary policy black hole

[I]  Working age needs a more flexible approach

[I]  Pensions tax relief rules ‘in need of reform’

[I]  Continuing rise of the 40-year mortgage

 

REUTERS

[I]  India's industrial output shrinks at fastest rate in more than six years

[I]  India's September passenger vehicle sales dive 24% as slowdown persists

[I]  Indian festival fails to buoy gold demand; China awaits trade verdict

[I]  Japan's capital braces for what could be worst typhoon in 60 years

[I]  Bruised U.S. banks expected to report earnings decline

[I]  Trump sees 'good things' in trade talks; China dangles partial deal

[I]  Global risk 'confluence,' as tariffs, Brexit, weaker forecasts collide

 

BLOOMBERG 

[I]  Fed to Start Buying $60 Billion of Treasury Bills a Month From Oct. 15

[I]  Fed’s Plan to Buy Treasury Bills Could Be an Expensive Ordeal

[I]  China Sounds Warning on Australian Ties After Minister’s Barbs

[I]  QE, or Not QE? Impact of Fed Bond-Buying Will Depend on Treasury

[I]  ECB Governing Council Is Turning Page After Spat, Villeroy Says

[I]  U.S. Consumer Sentiment Unexpectedly Rises to Three-Month High

[I]  Yield Curve Recession Signal Fades as Haven Sell-Off Deepens

 

WALL STREET JOURNAL

[I]  U.S., China Reach Truce on Trade

[I]  Fed Will Purchase Treasury Bills at Least Into Second Quarter of 2020

[I]  Trump Signs Executive Order to Offset Agencies’ Increased Administrative Spending

[I]  Fed Gives Large Banks a Break on Postcrisis Rules

[I]  Social Security Benefits to Rise 1.6% in 2020

[I]  WSJ Survey: Most Economists Say Manufacturing in Recession

 

BUSINESS LINE

[I]  Goyal to stress on safeguards against import surges, better services deal at RCEP meet

[I]  Number of crorepati taxpayers up 20%

[I]  Indian oil refiners jolted by five-fold rise in freight rates

[I]  India now imports skilled labour for infra projects

[I]  Why strong monsoon rains are not necessarily good news for Indian farmers

[I]  Factory output turns negative, clocks slowest pace in 7 years

[I]  Auto sales continue to be on slow track in September: report

 

ECONOMIC TIMES

[I]  RBI gets into clean-up mode, post PMC mess

[I]  Slowdown begins to hurt India's industries

[I]  RBI remains net seller of dollar in Aug; sells $4.1 billion

[I]  Forex reserve hits lifetime high of $437.83 billion

[I]  Modi-Xi could discuss roadmap to address widening trade deficit

[I]  IIP shrinks 1.1% in Aug on dismal consumer, capital goods output

[I]  Govt working to create information system on stressed companies

 

BUSINESS STANDARD

[I]  Downward spiral: Industrial output shrinks by 1.1%; at nearly 7-year low

[I]  Focus on self-regulation at meet to discuss digital content players

[I]  Utility vehicle sales buck slowdown trend due to high discounts, launches

[I]  'Crorepatis' rise by 16,345 in AY19: Here's a look at direct tax data

[I]  Facing tight liquidity, NBFCs step up offshore fundraising exercise

[I]  Non-US banks have $1.4 tn at risk in the event of crisis, warns IMF

 

Best Regards, ARBIND

12 Oct 2019