MACRO ECONOMIC NEWS

DANCE WITH LIFE IS MOVING FROM CONDITIONAL INTERDEPENDENCE TO BEING ONE WITH EACH OTHER. WISHING A HARMONIOUS WEEKEND AHEAD.

Macro Economic News 16 Nov 2019

 

Global debt is on course to end 2019 at a record high of more than $255 trillion, the Institute of International Finance estimated -- nearly $32,500 for each of the 7.7 billion people on planet. The FED, in its latest central bank financial-stability report, has identified elevated asset prices and historically high debt owed by U.S. businesses as top vulnerabilities facing the U.S. financial system. U.S. retail sales rebound as Americans spent more on shopping in October, signalling consumer spending remains on solid footing, but big-ticket purchases drop. U.S.-China trade talks are set to continue as both sides seek to hammer out a phase one trade pact. Eurozone harmonized inflation drops to nearly three-year low in October matching the preliminary estimate. Hong Kong sank into recession amid protests, trade war for the first time in a decade in the third quarter, government data confirmed. India’s top 1.5% accounts for 19% of total earnings as per the tax returns data. Untimely rains hit India's summer crops, delaying rural economy recovery as India witnesses the wettest June-September monsoon season in 25 years. Indian exports shrink for 3rd straight month; down 1.1% in Oct; imports fall 16.3%.

 

FINANCIAL TIMES

[I]  Latin America faces a second ‘lost decade’

[I]  Australian fires ignite bitter battle over climate change

[I]  ECB revokes licence of one of Austria’s best-known banks

[I]  Central bank trades prompted rival FX traders to share info

[I]  The US economy isn’t as competitive or free as you think

[I]  Boston property moves skyward as condo prices dip

 

REUTERS

[I]  Untimely rains hit India's summer crops, delay rural economy recovery

[I]  China central bank to maintain prudent policy to prevent inflation from spreading

[I]  Climate change, human activity rub salt into Venice's wounds

[I]  Trade deal hopes, surging health stocks power Wall Street to highs

[I]  Hong Kong confirms economy fell into recession amid protests, trade war

[I]  U.S. retail sales rebound, but big-ticket purchases drop

[I]  Global debt to top record $255 trillion by year's end

 

BLOOMBERG 

[I]  The Stocks Investors Loved-to-Hate Give Canada’s Market a Boost

[I]  Lebanon Bond Sell-Off Eclipses Argentina as Unrest Flares Up

[I]  Turkey Casts Venezuela Another Lifeline, Buying Its Scrap Metal

[I]  New ECB Benchmark Draws Scrutiny After Data Blip

[I]  Toronto Decline, Vancouver Recovery Leave Canadian Home Sales Flat

 

WALL STREET JOURNAL

[I]  U.S. Retail Sales Rebounded in October

[I]  Fed Flags Elevated Asset Prices, High Debt as U.S. Risks

[I]  New York Fed Adds $68.343 Billion

[I]  Warren Tax Plan Would Bring Rates Over 100% for Some

[I]  Deal on U.S.-Mexico-Canada Trade Pact Takes Shape, Pelosi Says

[I]  Powell Signals Optimism but Cites Trade Uncertainties

 

BUSINESS LINE

[I]  Goods exports decline 1.11 per cent in October, trade deficit shrinks

[I]  Petroleum products, leather, garments dip; electronics, engineering, chemicals rise

[I]  No GST on salary, says CBIC

[I]  Railways hikes charges for meal, tea on Rajdhani, Shatabdi, Duronto trains

[I]  Rabi sowing affected in Madhya Pradesh, Punjab; overall acreage down 11 per cent

[I]  Wheat area down by 23 per cent; Punjab, Madhya Pradesh lag behind

 

ECONOMIC TIMES

[I]  Cover on bank deposits could be enhanced soon

[I]  Trade deficit narrows to $11 billion in Oct

[I]  Forex reserve hits fresh high of $448 billion

[I]  Sino-US trade deal hopes lift Asian currencies

[I]  Consumer affairs ministry seeks removal of import bar to check pulses price hike

[I]  Consumer spend survey won’t be released: Ministry

 

BUSINESS STANDARD

[I]  Govt paves way for insolvency resolution of financial service providers

[I]  Easing of IBC deadline to serve interests of public, debtor: MCA secretary

[I]  Top 1.5% account for 19% of total earnings: Tax returns data show disparity

[I]  Are India's falling consumer spending and strong GDP growth in sync?

[I]  Australia, New Zealand continue to bat for India's entry into RCEP

[I]  Exports shrink for 3rd straight month; down 1.1% in Oct; imports fall 16.3%

 

Best Regards, ARBIND
16 Nov 2019