MACRO ECONOMIC NEWS

BEAUTY LIES IN INTENTION AND FORMATION EVEN WITH BARBED POSSESSIONS. WISHING A SPLENDID DAY AHEAD.

Macro Economic News 28 Nov 2019

 

U.S. economic growth picked up slightly in the third quarter, rather than slowing as initially reported, and there are signs the downturn in business investment may be drawing to a close. The Bank of Mexico lowered its economic growth estimates for 2019 and 2020, saying weakness had been more pronounced and prolonged than it previously expected. Japan's retail sales post sharpest fall since 2015 as tax hike hits demand while vested interests are dragging South Africa down. Merkel warns Europe cannot defend itself without Nato, however, Switzerland moves to end tariffs on imported industrial goods. China warns of 'firm counter measures' after Trump signs U.S. legislation on Hong Kong whereas China wants to speed up business reforms, investment to boost slowing economy although China urged to lower 2020 growth target as trade war bites. Economists don’t expect a third rate cut in Korea this year; Brazil caps overdraft interest rates, they’re still 150% a year. 15th Finance Commission of India gets extension till October 2020 while Moody’s expects Centre’s fiscal deficit to rise to 3.7% whereas economist are worried that It's Getting More Expensive to Eat. It is sad to see Indian varsities further drop in QS World University Asia rankings; none in Asia’s top 30.

 

FINANCIAL TIMES

[I]  Lagarde wants key role for climate change in ECB review

[I]  Merkel warns Europe cannot defend itself without Nato

[I]  UK raises funding to European Space Agency more than 15%

[I]  Brussels eyes easing bank rules to spur green loans

[I]  India’s bankruptcy law faces its biggest opportunity yet

[I]  Vested interests are dragging South Africa down

 

REUTERS

[I]  Japan's retail sales post sharpest fall since 2015 as tax hike hits demand

[I]  China gives P2P lenders two years to exit industry: document

[I]  Top Mexican official floats prospect of labour tweak for continental trade deal

[I]  U.S. economy picks up in third-quarter; data surprise on the upside

[I]  China warns of 'firm counter measures' after Trump signs U.S. legislation on Hong Kong

[I]  China wants to speed up business reforms, investment to boost slowing economy - premier

[I]  China urged to lower 2020 growth target as trade war bites

 

BLOOMBERG 

[I]  Economists Don’t Expect a Third Rate Cut in Korea This Year

[I]  It's Getting More Expensive to Eat, and Economists Are Worried

[I]  U.S. Economy in Modest Start to Quarter as Consumers Tepid

[I]  Record $100 Billion Asian Junk Bonds Got Funds Wanting More

[I]  These Are the Asian Currencies to Watch in 2020

[I]  China Accelerates $142 Billion Bond Sale to Boost Economy

[I]  Brazil Caps Overdraft Interest Rates. They’re Still 150% a Year

[I]  Switzerland Moves to End Tariffs on Imported Industrial Goods

 

WALL STREET JOURNAL

[I]  U.S. Growth Enters Fourth Quarter on More Solid Footing

[I]  U.S. Consumer Spending Rose 0.3% in October

[I]  Transcript: WSJ Interview With Dallas Fed President Robert Kaplan

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

[I]  Bank of Mexico Cuts Economic Growth Forecasts

 

BUSINESS LINE

[I]  Growth may have slowed, but there’s no recession, says Nirmala Sitharaman

[I]  Moody’s expects Centre’s fiscal deficit to rise to 3.7%

[I]  Coal production in India up by 164.58 MT in 5 years

[I]  US cuts funds for WTO Appellate Body drastically

[I]  15th Finance Commission gets extension till October 2020

[I]  India’s crude steel output falls 3.4 per cent in October

 

ECONOMIC TIMES

[I]  States' rising debt pose threat to India's fiscal deficit target

[I]  Prices of 80% of medicines may soon fall

[I]  European bonds await US-China trade talk progress

[I]  Cabinet may soon take up first corporate bond ETF

[I]  Onion prices resume upward trend, touch Rs 100/kg mark in vegetable markets

[I]  Japan keen to fix India’s RCEP issues

[I]  India in talks with Russia to import coking coal to reduce dependence on others

[I]  The current economic slump has another side to it

[I]  Watch: State of economy ahead of Q2 GDP numbers

 

BUSINESS STANDARD

[I]  RBI may give mutual funds, NBFCs access to large credit information

[I]  Labour laws: Govt proposes making 14-day notice must for holding a strike

[I]  No automatic stay on enforcement of arbitration award if challenged: SC

[I]  Trai unlikely to intervene in telecom tariffs, floor price for now: Sources

[I]  After long wait, National Financial Reporting Authority gets own address

[I]  Indian varsities drop in QS World University Asia rankings; none in top 30

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 12107;  USDINR DGCX: 71.4175;  DJIA Mini: 28080;  FTSE 100 Fut: 7410;  NIKKEI 225 Fut: 23440;  EUR-USD: 1.1006; Crude Oil (WTI): 57.85;  Gold (Spot): 1457

 

Best Regards, ARBIND
28 Nov 2019