MACRO ECONOMIC NEWS

HAPPINESS IS CELEBRATING CONTRIBUTION. WISHING A PLEASING DAY AHEAD.

Macro Economic News 20 Nov 2019

 

FED said the central bank isn’t committed to any particular policy path in the months ahead, even though it is comfortable right now with keeping rates steady after cutting them three times this year while it added $102.44 billion in temporary liquidity to the financial system. China cut its new benchmark lending rate, as widely expected, moving to drive down funding costs and shore up an economy hurt by slowing demand and trade tariffs. Japan's exports tumbled at their quickest pace in three years, threatening to tip the trade-reliant economy into recession as weakening demand from United States and China darkened the outlook. Finance Commission of India is likely to reject $12 billion package to help utilities cut pollution whereas India's state-run banks report fraud of more than $13 billion in 6 months. RBI unions want govt to hike deposit insurance cover to Rs 10 lakh. Care finds that Employment growth slowed down in last two years hitting core companies. Now it is time to raise growth, reduce poverty and having universal supplementary income to fight poverty.

 

FINANCIAL TIMES

[I]  China ramps up coal power in face of emissions efforts

[I]  Global digital tax would flop, French council warns

[I]  US talks with South Korea break down over defence costs

[I]  Indian telecoms groups signal end of price war

[I]  German small savers hit with negative rates

[I]  Brussels’ Brexit inflexibility damages its interests

 

REUTERS

[I]  Finance Commission likely to reject $12 billion package to help utilities cut pollution

[I]  India's state-run banks report fraud of more than $13 billion in 6 months

[I]  China cuts new benchmark lending rate to lower costs, shore up economy

[I]  China to revise 2018, historical GDP figures based on census results: statistics bureau

[I]  In testy leadership debate, UK PM Johnson promises quick Brexit

[I]  Japan's exports post worst fall in three years as shipments to U.S., China drop

[I]  What trade war? Chinese companies wow with third quarter report card

[I]  U.S. housing starts rebound; permits highest in over 12 years

 

BLOOMBERG 

[I]  Emerging Markets Have Monetary Firepower to Drive World Economy

[I]  Optimistic Strategists Switch to Riskier Stocks in Asia

[I]  Defaults in China’s Private Sector Mount as Tunghsu Joins List

[I]  Fed Minutes Seen Reinforcing Message of Rates on Prolonged Hold

[I]  World-Beating Pakistan Stocks Have Juice as Funds to Join Rally

[I]  ‘Giant Risk Event,’ Fed’s Williams Worries, Inside PBOC: Eco Day

[I]  The $15 Billion Reason Why Asia Bond Defaults Could Rise

[I]  Inside the PBOC’s Struggle to Balance China’s Growth and Debt

 

WALL STREET JOURNAL

[I]  New York Fed’s Williams Stresses Flexible Approach to Setting Interest Rates

[I]  Trump Accuses Pelosi of Stalling Trade Deal Amid Impeachment Probe

[I]  House Passes Short-Term Spending Measure

[I]  Retail Results Send Mixed Signals on Consumer Spending

[I]  Fed Adds $102.44 Billion to Financial System

[I]  Bank of Canada Warns Global Stress Could Affect Domestic Economy

[I]  Trade Flows Set to Stay Weak, Says WTO

 

BUSINESS LINE

[I]  ₹2,000 note is the preferred mode for unaccounted cash, says govt data

[I]  India, South Africa adopt tough stand on e-commerce moratorium

[I]  India vulnerable to oil price, capital flows shocks: YV Reddy

[I]  Employment growth slowed down in last two years: Care

[I]  For businesswomen, the road ahead is still long

 

ECONOMIC TIMES

[I]  Corporate CSR funds not to go into govt projects

[I]  The core of India's unemployment problem

[I]  Public sector lenders gear up to renew focus on tea sector

[I]  India may extend onion export ban to February to cap domestic prices

[I]  Govt eases input tax refunds for exporters

[I]  No intention to revise fiscal deficit target: Govt

[I]  Government plans to tweak highway auction norms

[I]  Personal guarantor insolvency under IBC from December 1

[I]  Jobs growth slows in past 2 years, core companies hit hard

[I]  RBI unions want govt to hike deposit insurance cover to Rs 10 lakh

[I]  Raise Growth, Reduce Poverty: Time now to think of universal supplementary income to fight poverty

 

BUSINESS STANDARD

[I]  12 hours to 12 minutes: Customs clearance to take the swift route

[I]  PSBs have reported Rs 95,700-crore frauds in first 6 months of FY20: FM

[I]  Finance, IT lead in job creation, capital-intensive sectors in cuts: CARE

[I]  Only 51 days of work per household given under MNREGS in 2018-19

[I]  Trade disputes' fate hangs in balance with top WTO body about to lapse

[I]  Cabinet panel to soon take up proposal to pare majority govt stake in PSUs

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11955;  USDINR DGCX: 71.8300;  DJIA Mini: 27844;  FTSE 100 Fut: 7301;  NIKKEI 225 Fut: 23100;  EUR-USD: 1.1074; Crude Oil (WTI): 55.32;  Gold (Spot): 1474

 

Best Regards, ARBIND
20 Nov 2019