MACRO ECONOMIC NEWS

EVERYTHING THAT GOD ALLOWS TO COME OUR WAY ALWAYS HAS A PURPOSE; FRIDAY COMES OUR WAY. WISHING A FRIVOLOUS FRIDAY AHEAD.

Macro Economic News 15 Nov 2019

 

Fed Chairman Jerome Powell told lawmakers on Capitol Hill the central bank was optimistic its interest-rate cuts this year would buoy the U.S. economy against headwinds, including trade uncertainty and a global slowdown. A lower percentage of people out of work is relying on unemployment payments amid tighter state rules on obtaining the benefits and a strong job market. Germany narrowly avoids recession as growth ticks up in the last quarter. Australia considers to offer cheap loans to boost rare earths. Fed and BoE institutional models would not benefit the ECB. UK companies opine that their business with India may increase after Brexit. Moody’s cuts India’s GDP growth forecast to 5.6 per cent for 2019. India's October diesel demand falls the most in nearly 3 years while wholesale inflation hits 3 year low in October.

 

FINANCIAL TIMES

[I]  Soaring Indian onion prices raise risk of political fallout

[I]  Chilean businesses count cost of riots

[I]  US and China struggle to finalise ‘phase one’ trade deal

[I]  Two Namibian ministers resign in fishing scandal

[I]  Germany narrowly avoids recession as growth ticks up

[I]  Australia to offer cheap loans to boost rare earths

[I]  A recession could fuel a new crypto boom and bust

[I]  Fed and BoE institutional models would not benefit the ECB

 

REUTERS

[I]  India's October diesel demand falls the most in nearly 3 years

[I]  U.S. and China 'getting close' to trade deal - White House economic adviser

[I]  Hong Kong to unveil depth of recession amid protests, trade war

[I]  'Suffering' German economy narrowly escapes recession in third quarter

[I]  Fed's Williams, echoing Powell, says policy is in 'a good place'

[I]  Strong healthcare costs help to lift U.S. producer inflation

 

BLOOMBERG 

[I]  Powell Sees Few Risks Likely to Derail Record U.S. Expansion

[I]  Global Economy on Thin Ice With Frail Trio From China to Germany

[I]  Macro Risk Checks Which Hedges Actually Work and Which Are Duds

[I]  Singapore Touted as Capital Markets Model for Developing Nations

[I]  Thailand’s ‘Fragile’ Economy Is Expected to Post Muted Recovery

[I]  Japanese Banks Face Headwinds Even With Profit Goals in Sight

 

WALL STREET JOURNAL

[I]  Powell Signals Optimism but Cites Trade Uncertainties

[I]  Fed’s Bullard: After Three Cuts, It’s Now Time for Fed to Hold Steady

[I]  New York Fed’s Williams Backs Keeping Rates Steady

[I]  Fewer Jobless Americans Tap Unemployment Benefits

[I]  Fed's Clarida: U.S. Testing Edge of Full Employment, Price Stability

[I]  Rewrite of Lower-Income Lending Rules to Advance in December

 

BUSINESS LINE

[I]  Steel companies hike prices by Rs 500-750 a tonne for the first time this fiscal

[I]  MSMEs oppose government move to redefine classification based on turnover

[I]  Cultivate fallow land and create job opportunities to address farmer suicides: NIAS study

[I]  UK companies say business with India may increase after Brexit

[I]  Moody’s cuts India’s GDP growth forecast to 5.6 per cent for 2019

[I]  Due date for filing GST returns for FY 18 extended to Dec 31

 

ECONOMIC TIMES

[I]  Market worried over fiscal i math, repo-bond yield spread widens

[I]  CBDT mops up Rs 6 lakh cr in direct tax collection so far

[I]  Fresh probes against Indian forged steel fittings by US

[I]  US initiates new anti-dumping duty, countervailing investigations

[I]  India-Russia-China explore alternative to SWIFT payment mechanism

[I]  Wholesale inflation hits 3 year low in October

[I]  Labour Ministry rejigs social security code, yet again

[I]  Tax department going after CXO pay cheques

 

BUSINESS STANDARD

[I]  Consumer spend sees first fall in 4 decades on weak rural demand: NSO data

[I]  Lenders may miss RBI's six-month deadline to approve debt-resolution plans

[I]  Land-buying hurdle hits private equity firms betting on warehousing units

[I]  Oct wholesale inflation at 40-month low of 0.16% on cheaper non-food items

[I]  MSME plays key role in becoming $5 trillion economy, says Union minister

[I]  Banks turning their back on India Inc, focusing on lucrative retail lending

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11920;  USDINR DGCX: 72.0400;  DJIA Mini: 27844;  FTSE 100 Fut: 7326;  NIKKEI 225 Fut: 23310;  EUR-USD: 1.1024; Crude Oil (WTI): 57.07;  Gold (Spot): 1468

 

Best Regards, ARBIND
15 Nov 2019