MACRO ECONOMIC NEWS

FAITH IS THE SUBSTANTIATING OF THINGS HOPED FOR; THIS FRIDAY TOO. WISHING A PROMISING FRIDAY AHEAD.

Macro Economic News 22 Nov 2019

Chinese commerce ministry said that China will strive to reach an initial trade agreement with the United States as both sides keep communication channels open. China’s chief trade negotiator has invited his American counterparts for a new round of talks, according to people briefed on the matter, as both sides are struggling to strike a limited deal to help de-escalate tensions while Trump blames China for lagging talks. The OECD said that the economy is at risk of settling into a low-growth rut without urgent action to roll back recently erected obstacles to trade and greater investment in tackling climate change. The FED added $103.65 billion in temporary liquidity to the financial system on Thursday. China revises 2018 GDP up 2.1%. Corporate India's M&A deal value slips 45% to $1.5 bn in October while as per Govt, Indian PSU banks disbursed around Rs 2.5 trillion in loans during the same period; while India Lenders Brace for Possible $5 Billion Shadow Bank Writeoff. Over 200 global economists seek junked NSO report details from govt and Govt finalising IT rules for social media to trace original source of info.

 

FINANCIAL TIMES

[I]  Netanyahu charges threaten to deepen Israel political crisis

[I]  Italy’s blighted steel town creates government crisis

[I]  China’s skyscraper boom comes down to earth

[I]  Draghi urged unity on inflation aims, ECB minutes show

[I]  OECD urges governments to take ‘urgent’ stimulus action

[I]  Labour’s promised transformation is an assault on business

[I]  CLOs may pose less risk than CDOs but the case for scrutiny still stands

 

REUTERS

[I]  China revises 2018 GDP up 2.1%, says will not significantly impact 2019 growth calculation

[I]  Japan econmin says exports, production continue to show weakness

[I]  Japan's consumer inflation stagnant despite tax hike boost

[I]  Australia housing market revival to continue into 2020: Reuters poll

[I]  Dollar keeps safe-haven bid amid trade 'headline fatigue'

[I]  Japan November factory activity shrinks for seventh month, increases economic strains: flash PMI

[I]  China says it will strive to reach 'phase one' trade deal with U.S.

[I]  Japan's ruling bloc calls for $92 billion fiscal package to support growth

 

BLOOMBERG 

[I]  China’s Top Negotiator ‘Cautiously Optimistic’ About Reaching Trade Deal

[I]  No QE: Goldman Weighs In on Australia’s Monetary Policy Debate

[I]  Bank of America’s Moynihan Says U.S. Doesn’t Need Negative Rates

[I]  Stuck in Global Rut, Inequality Capital, China Optimism: Eco Day

[I]  Global Bond Market Looks to Modi for Greater Access to India

[I]  India Lenders Brace for Possible $5 Billion Shadow Bank Writeoff

[I]  What Is Sustainable Finance? That's a $4 Trillion Question for Investors

[I]  U.S. States Boost Spending at Fastest Pace Since Recession

 

WALL STREET JOURNAL

[I]  China Invited U.S. Trade Negotiators for Direct Talks

[I]  U.S. Existing-Home Sales Increased 1.9% in October

[I]  Threat of Auto Import Tariffs Remains Despite Lapsed Deadline

[I]  Democratic Senators Want the Fed to Better Prepare Banks for Climate Change

[I]  Powell Says Fed Has No Plans to Create Digital Currency

[I]  Global Economy to Stagnate if Trade War Persists, OECD Warns

[I]  Fed Adds $103.65 Billion to Financial System

 

BUSINESS LINE

[I]  With ₹40,000 cr due, States to press for urgent GST Council meeting

[I]  Steel imports: Japan flags concern over dumping probe by India at WTO

[I]  Top USTR team in India to finalise mini-trade package

[I]  Audit failure: Punish the guilty, do not debar firms, suggests company law panel

[I]  Your power bill may soon turn lighter

 

ECONOMIC TIMES

[I]  Economy to stay at low ebb in Q2, says ICRA

[I]  China gives startups what money can’t buy

[I]  OECD trims global 2020 growth forecast

[I]  How India hires and fires is about to change

[I]  Poor tax mop-up has states going slow on capex in H1: Report

[I]  India Inc's M&A deal value slips 45 pc to USD 1.5 bn in October: Report

[I]  Panel working on single fund for all skill related schemes: Pandey

 

BUSINESS STANDARD

[I]  Telcos' AGR dues to outweigh two-year breather for spectrum payment

[I]  RBI's oversight cadre move creates HR trouble, officers threaten agitation

[I]  Corporate India's M&A deal value slips 45% to $1.5 bn in Oct: Report

[I]  PSU banks disbursed around Rs 2.5 trillion in loans during October: Govt

[I]  Over 200 global economists seek junked NSO report details from govt

[I]  Govt finalising IT rules for social media to trace original source of info

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11970;  USDINR DGCX: 71.7875;  DJIA Mini: 27774;  FTSE 100 Fut: 7252;  NIKKEI 225 Fut: 23150;  EUR-USD: 1.1063; Crude Oil (WTI): 58.18;  Gold (Spot): 1465

 

Best Regards, ARBIND
22 Nov 2019