MACRO ECONOMIC NEWS

MAY WE ALL EXPERIENCE THE ABUNDANCE OF BLESSINGS TO US AND OTHERS. WISHING A PROFOUND WEEK AHEAD.

Macro Economic News 11 Nov 2019

 

The toppling of the Berlin Wall made free market economics the norm across Europe - but which financial markets have done the best since then? Wall Street and the BRICs, of course. Richest 1% of Americans Close to Surpassing Wealth of Middle Class. Yields on longer-term U.S. government debt climbed above those on shorter-term Treasurys in recent weeks—a sign investors expect no immediate pullback in growth and inflation. Contractors hit as China local government defaults rise while China factory prices falter, while its consumer inflation soars to near eight-year high and Chinese spending may be slowing down a cautious note - a point of attention for luxury companies. Canada’s housing market buzz is back as Toronto rebounds. BOJ debated whether to boost stimulus if inflation momentum stalls and U.K. election stops BOE from giving clues on rate policy. New Zealand sees big potential to cooperate with India in dairy sector. India acts to import 100,000 tons of onions to keep prices in check while FM Sitharaman says that Indian economy currently facing challenges.

 

FINANCIAL TIMES

[I]  Lagarde faces ECB push to overhaul policymaking

[I]  Contractors hit as China local government defaults rise

[I]  Canada’s housing market buzz is back as Toronto rebounds

[I]  Poland’s prime minister criticises Macron over Nato

[I]  Brazil’s Guedes keeps faith in reforms despite Chile crisis

[I]  Venezuela selling cut-price oil as US sanctions bite

[I]  Shipping industry seeks response to calls for cuts in emissions

[I]  German ruling parties reach deal on pensions

 

REUTERS

[I]  BOJ debated whether to boost stimulus if inflation momentum stalls - October summary

[I]  Australian authorities urge evacuations ahead of 'catastrophic' fire threat

[I]  China factory prices falter, while inflation soars to near eight-year high 

[I]  China-U.S. trade war to ease but conflicts will persist - former finance minister 

[I]  Exclusive: Sudan needs up to $5 billion in budget support to prevent collapse

 

BLOOMBERG 

[I]  Reality Check Looms for Emerging Markets on Trade and China

[I]  U.K. Election Stops BOE From Giving Markets Clues on Rate Policy

[I]  Shadow Banking Crisis in India Sparks Gold Rush for Some Lenders

[I]  Iran Claims to Discover 53 Billion Barrels in New Oil Reserves

[I]  Here’s What British Companies Have Been Saying About Brexit

[I]  Meet the Other Powerful Woman to Start at the ECB

[I]  India to Import 100,000 Tons of Onions to Keep Prices in Check

[I]  Attention Luxury Companies, Chinese Spending May Be Slowing Down

[I]  Liberia Gets Third Central Bank Governor in Less Than Two Years

[I]  Richest 1% of Americans Close to Surpassing Wealth of Middle Class

 

WALL STREET JOURNAL

[I]  India’s Divided Economy—and a Manufacturing Slump—Slow Its Rise

[I]  Rising Yields Quiet Bond Market’s Key Recession Alarm

[I]  U.S.-China Trade Talks Face Another Hurdle: Where to Sign the Deal

[I]  Economy Week Ahead: German Recession Watch, U.S. Retail Sales, Powell Talks to Congress

[I]  China’s Consumer Inflation Soars to Highest Level in Years

[I]  Fed’s Brainard Says Climate Change Might Have Implications for Neutral Interest Rate

 

BUSINESS LINE

[I]  OECD invites public inputs on Global Anti-Base Erosion proposal

[I]  MNCs and international businesses may face minimum level of corporate tax

[I]  CII-KPMG report suggests ways for start-ups to go global

[I]  New Zealand sees big potential to cooperate with India in dairy sector

[I]  India, 16 others complain to WTO about EU’s residue limits for pesticides

[I]  ‘Mass enterprises’ provide stable job opportunities: Survey

 

ECONOMIC TIMES

[I]  SEPC for adding more services under export incentive scheme to boost shipments

[I]  Cotton exporters hope to resume trade with Pakistan

[I]  This red alert is now flashing on the bond trader’s radar screen

[I]  355 infra projects show cost overruns of Rs 3.88 lakh crore

[I]  Income Tax task force report suggests complete rejig of tax slabs, saving govt Rs 55,000 crore

[I]  Indian economy currently facing challenges, says Sitharaman

[I]  No claimants for dormant Swiss accounts of Indians; some may get liquidated soon

 

BUSINESS STANDARD

[I]  RBI plans PCA framework, different supervisory system for NBFCs by 2022

[I]  I-T department seeks Rs 1-trillion cut in direct tax mop-up target

[I]  PSU general insurance companies seek capital infusion prior to merger

[I]  After kharif season loss, abundant late monsoon gives farmers hope

[I]  Lack of data hampers govt's services export promotion scheme: Officials

[I]  Slowdown blues: Demand worries likely to dim IT firms' growth outlook

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11910;  USDINR DGCX: 71.4225;  DJIA Mini: 27565;  FTSE 100 Fut: 7336;  NIKKEI 225 Fut: 23320;  EUR-USD: 1.1023; Crude Oil (WTI): 56.83;  Gold (Spot): 1462

 

Best Regards, ARBIND
11 Nov 2019