MACRO ECONOMIC NEWS

BEAUTIFUL HEART SHINES IN ALL CIRCUMSTANCES. WISHING A GLOWING DAY AHEAD.

Macro Economic News 27 Nov 2019

 

Nobel Laureate Robert Engle says that India doesn’t face any near-term financial crisis however he warns against the risk of undercapitalisation for state-owned institutions. As per Crisil, states need to raise infrastructure spending to Rs 110 lakh cr over next decade whereas India Ratings lowers India's Q2 GDP growth to 4.7% and forecast for FY20 at 5.6%. Reuter poll indicates Indian stock gains to be limited in 2020 as economy slows.

 

U.S. consumer confidence fell in November for the fourth month in a row, another sign that American households are pulling back amid a global slowdown and continued trade war fears although Home-price growth accelerated in September, marking two-straight months of price increases after a long period of decelerating gains. However a big question remains open that can the market absorb 21 million homes?

 

Mexico banks on $43bn infrastructure plan for economic growth while Brazil central bank vows more currency intervention if needed. Chile brings forward rate decision as social unrest hits economy where China warns over rising household debt. Powell says Fed’s rate cuts reflect more bearish view of economy and ECB explores development of a digital currency.

 

FINANCIAL TIMES

[I]  US commerce secretary to vet tech imports

[I]  Romania’s leadership duo pledge pro-EU era

[I]  Mexico banks on $43bn infrastructure plan for growth

[I]  China warns over rising household debt 

[I]  UN study reveals gap in required cuts to emissions

[I]  ECB explores development of a digital currency

[I]  China’s bank funding pressured as confidence drops

 

REUTERS

[I]  Global temperature rises could bring 'destructive' effects, U.N. says

[I]  Trump says near deal with China, but U.S. also has eye on Hong Kong

[I]  Bank of Japan policymaker Sakurai sets high bar for additional easing

[I]  China's industrial profits post steepest fall in 8 months

[I]  Japan share prices seen stepping up to 30-year peak: Reuters poll

[I]  U.S.-China trade deal close, Trump says; negotiations continue

[I]  U.S. consumer confidence ebbing; housing market firming

 

BLOOMBERG 

[I]  South Korean Consumers Turn Optimistic for First Time Since April

[I]  Fed's Brainard Sees Solid Economy, Backs Big Strategy Change

[I]  Goldman Says Closing Gender Gap Could Boost Australian GDP by 8%

[I]  China’s Slowdown, Trade Deal on Brink, Modi’s Trillions: Eco Day

[I]  Indian Sugar Demand Seen Hurt by Economic Slowdown, Health Worry

[I]  Brazil Central Bank Vows More Currency Intervention If Needed

[I]  Chile Brings Forward Rate Decision as Social Unrest Hits Economy

 

WALL STREET JOURNAL

[I]  U.S. Consumer Confidence Declined in November

[I]  Fed Has Taken ‘Significant Action’ to Offset Risks to Economy, Brainard Says

[I]  Home-Price Growth Picked Up in September

[I]  Powell Says Fed’s Rate Cuts Reflect More Bearish View of Economy

[I]  U.S. Firms Pull Back on Investment

[I]  What Bad News? Investors Keep Stocks Rising

[I]  Newsletter: Can the Market Absorb 21 Million Homes?

 

BUSINESS LINE

[I]  India Ratings lowers India's Q2 GDP growth to 4.7%; FY20 forecast at 5.6%

[I]  India doesn’t face any near-term financial crisis, says Nobel Laureate Robert Engle

[I]  States need to raise infrastructure spending to Rs 110 lakh cr over next decade: Crisil

[I]  US restrictions continue to hit exports of wild-caught shrimps

[I]  Govt has its task cut out as direct tax, GST mop-up slows

 

ECONOMIC TIMES

[I]  A UN climate change report has dire findings

[I]  Major currencies hardly budge, trapped by US-China trade

[I]  RBI revises framework on currency swap arrangement for SAARC nations

[I]  Government may restrict import of all types of refined edible oils

[I]  Bill introduced to raise cap on chit fund collections

[I]  Commerce ministry seeks views of different departments on national logistics policy

 

BUSINESS STANDARD

[I]  Infrastructure needs Rs 235-trillion investment in 10 years: CRISIL

[I]  Policyholders likely to gain as Irdai proposes changes to motor policy

[I]  Risk of undercapitalisation for state-owned institutions: Nobel winner

[I]  States' GST compensation may need to be extended beyond 2022: Report

[I]  At least 100 petrol pumps, 5% in remote areas: New liberalised fuel policy

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 12094;  USDINR DGCX: 71.4200;  DJIA Mini: 28122;  FTSE 100 Fut: 7411;  NIKKEI 225 Fut: 23450;  EUR-USD: 1.1017; Crude Oil (WTI): 58.26;  Gold (Spot): 1460

 

Best Regards, ARBIND
27 Nov 2019