MACRO ECONOMIC NEWS

THE BEST GIFT IS TO FORGIVE; THE FIRST PERSON IS TO FORGIVE IS YOURSELF; THIS FRIDAY. WISHING AN EMPATHIC DAY AHEAD.

Macro Economic News 08 Nov 2019

 

Global debt load surges to new all-time record high of $188 trn. China and the United States have agreed to roll back tariffs on each others' goods in a "phase one" trade deal if it is completed, officials from both sides said. Economists are roughly split over whether the recent hiring slowdown in the US reflects primarily a shortage of workers or softening demand for labor. China has officially started researching sixth-generation telecoms technology. German industrial production slumped in September while The Bank of England said it expects the U.K. economy to pick up modestly over the next three years if lawmakers back Prime Minister Boris Johnson’s Brexit deal and the country pursues a free-trade accord with the European Union. Merkel rejects Macron warning over Nato ‘brain death’. A Reuters poll showed that a slowing domestic economy will prevent India's rupee from recouping this year's losses against the dollar in 2020, with optimism around an easing in the U.S.-China trade dispute not enough to give it a further boost. India's dependence on imports for Crude oil, natural gas increases. CBDT notifies PAN-Aadhaar inter-changeability to enable quoting of the Aadhar number instead of PAN in various forms and documents.

 

FINANCIAL TIMES

[I]  Merkel rejects Macron warning over Nato ‘brain death’

[I]  China and US agree to lift some tariffs in sign of trade war thaw

[I]  Colombia bucks dismal trend for Latin American economies

[I]  Italy warns against German banking union plans

[I]  Brussels cuts growth forecasts in ‘protracted’ slowdown

[I]  German industrial production slumped in September

[I]  Iran warns Europe over collapsing nuclear deal

[I]  Bank of England to cut rates if economy slows further

 

REUTERS

[I]  Slowing economy spells tough times ahead for rupee

[I]  China, U.S. agree tariff rollback if phase one trade deal is completed

[I]  NATO experiencing 'brain death', France's Macron says

[I]  Japan's September household spending rises at fastest pace on record

[I]  Japan September real wages rise for first time in nine months - government

[I]  China, U.S. agree tariff rollback if phase one trade deal is completed

[I]  China kicks off work on 6G research, state media say

[I]  Japan Abe to instruct ministers to compile stimulus package - NHK

[I]  Japan firms say October tax hike impact milder than 2014 increase - Reuters survey

 

BLOOMBERG 

[I]  China Is Keeping Stimulus in Check. Here’s What May Change That

[I]  Why Indonesia Is Missing Out as Companies Move Out of China

[I]  Fed Says $500 Billion in Losses Show the Economic Threat of Climate Change

[I]  Precious Metals Get Crushed as End-of-the-World Trade Implodes

[I]  Frozen by Fear: The Year That European Fund Investment Got Scary

 

WALL STREET JOURNAL

[I]  WSJ Survey: Economists Split on Causes of Hiring Slowdown

[I]  China Claims Tariffs Will Go, but Others Express Doubts

[I]  N.Y. Fed: Regulators Have Growing Interest in Climate-Change Risks

[I]  Retirees’ Mandatory IRA Withdrawals Would Shrink Under Treasury Plan

[I]  Bank of England Forecasts Modest Economic Boost if Brexit Plan Passes

[I]  China Embraces Bankruptcy, U.S.-Style, to Cushion a Slowing Economy

 

BUSINESS LINE

[I]  Any ‘further decision’ on RCEP can be taken only if other members address our concerns, says MEA

[I]  ‘Rules of Origin’ and base rate year for duty were some of the sticking points

[I]  City of London explores steps to ‘supercharge’ India’s green finance sector

[I]  Retailers want level playing field with online players; flag deep discounts, predatory pricing

[I]  Global black tea production up, thanks to India

 

ECONOMIC TIMES

[I]  India sees 26.9 % decline in MMR since 2013

[I]  Agriculture Ministry told to prepare ‘zero edible oil import’ plan

[I]  India may impose anti-subsidy duty on imports of copper wire rods from 4 nations

[I]  India's dependence on imports increases: Crude oil, natural gas output falls

[I]  CBDT notifies PAN-Aadhaar interchangeability

[I]  Commerce ministry raises issue of DRI notices to exporters over IGST with FinMin

[I]  15th Finance Commission likely to get 6-month extension

 

BUSINESS STANDARD

[I]  Tussle between traders, FMCG firms worsens over differential pricing

[I]  Govt may tighten presumptive taxation norms, do away with some deductions

[I]  Resolution of bad assets: RBI set to recast inter-creditor agreement

[I]  Irdai issues draft norms on wellness services in health insurance products

[I]  Govt asks homebuyers to approach lenders for revival of their loans

[I]  Rs 25,000-crore realty corpus: Experts worry over implementation

[I]  Global debt load surges to new all-time record high of $188 trn: IMF chief

 

MARKETS (06:30 am)

[I]  SGX NIFTY Fut: 12005;  USDINR DGCX: 71.0925;  DJIA Mini: 27639;  FTSE 100 Fut: 7372;  NIKKEI 225 Fut: 23480;  EUR-USD: 1.1049; Crude Oil (WTI): 56.85;  Gold (Spot): 1467

 

Best Regards, ARBIND
08 Nov 2019