MACRO ECONOMIC NEWS

THE LOVE IS THE SOURCE OF GRACE AND BLESSINGS. WISHING AN ELEGANT WEEK AHEAD.

Macro Economic News 04 Nov 2019

 

British Prime Minister Boris Johnson drew an angry backlash from Brexit Party leader Nigel Farage after he rejected calls to drop his Brexit deal and embrace a clean break from the European Union, potentially splitting the eurosceptic vote. A Federal Reserve economist devised a simple rule based on movement in the unemployment rate to rapidly determine when a recession is under way.  The U.S. economy has cooled but continues to expand with employers hiring, consumers spending and growth stabilizing. China is ready to work with Southeast Asian countries for long term peace and stability in the South China Sea, Chinese premier Li Keqiang said on Sunday after meeting ASEAN leaders. Southeast Asian leaders, worried by the U.S.-China trade war, pushed for a deal on what could be the world's largest trade bloc on Sunday as officials worked behind the scenes to try to salvage progress following new demands from India. Australia job ads fall in October to 2.5-year low while Australia and China vow to work on repairing bilateral relationship. U.A.E. plans to loosen cap on bank lending to property industry.

 

FINANCIAL TIMES

[I]  US urges Taiwan to curb chip exports to China

[I]  China’s stock market on track as world’s best-performing in 2019

[I]  Trump’s whims stoke Middle East fears of instability

[I]  Brexit party leader Farage says he will not stand in election

[I]  Japan’s foreign minister sees progress on end to US car tariffs

[I]  Shares in private equity firms soar on tax status change

[I]  Big Tech has moved from offering utopia to selling dystopia

 

REUTERS

[I]  Doubts over trade pact at SE Asian summit due to India's new demands

[I]  India's smog-bound capital suffers most hazardous air so far this year

[I]  Britain's plan to raise minimum wage backed by review

[I]  Australian retail sales disappoints in September, Aussie slips

[I]  Australia job ads fall in October to 2.5-year low: ANZ

[I]  UK accountants gloomiest in a decade on Brexit and slow growth

[I]  Australia and China vow to work on repairing bilateral relationship

[I]  China says ready to work with ASEAN for South China Sea peace

[I]  PM Johnson rejects calls for no-deal Brexit in election pitch

[I]  Phase one trade deal with China is in good shape - U.S. Commerce Secretary 

[I]  U.S.-China trade deal in sight after progress in high-level talks

 

BLOOMBERG 

[I]  There’s a Dark Side to Zero-Cost Investing You Can’t Ignore

[I]  Carney Faces Fresh Forecast Headache in Revamped Policy Report

[I]  Calls Persist for Negative U.S. Yields Even as Fed Signals Pause

[I]  Emerging Asia’s Favored Bonds Performed the Worst in October

[I]  Ethiopian Prime Minister Calls for Unity as Protest Deaths Rise to 86

[I]  It's Last Hurrah for Turkish Inflation's Brief Spell Below 10%

[I]  Rand Traders on Edge as Moody’s Puts Debt in Last-Chance Saloon

[I]  Australia’s Low Interest Rates Could Be Doing More Harm Than Good

[I]  U.A.E. Plans to Loosen Cap on Bank Lending to Property Industry

 

WALL STREET JOURNAL

[I]  Are We in a Recession? Experts Agree: Ask Claudia Sahm

[I]  Job Gains Help Extend U.S. Economic Growth

[I]  Warren Would Tax the Wealthy and Companies to Pay for Medicare for All

[I]  Economy Week Ahead: Factory Orders, Trade Data from the U.S. and China, Bank of England Rate Decision

[I]  Warren’s Medicare for All Would Leave Mark on U.S. Economy

[I]  Global Factory Slowdown Takes Toll on Jobs

[I]  Newsletter Special Edition: Labor Market Shrugs Off Strike, Uncertainty

 

BUSINESS LINE

[I]  US Treasury Secretary holds talks with RBI Governor Shaktikanta Das over economy

[I]  US wants India to open up more sectors for its companies

[I]  Severe cyclone Maha to cross Gujarat coast by Wednesday night: IMD

[I]  Cyclonic circulation over North Andaman Sea may settle as low-pressure area by Monday: IMD

[I]  Tea prices down at Kochi auctions on subdued demand

 

ECONOMIC TIMES

[I]  Why it is downright dangerous to equate banks and NBFCs

[I]  Led by India, South Asia moving towards becoming center of global growth: IMF

[I]  India has stopped working in a routine, bureaucratic manner: PM Modi in Thailand

[I]  World's biggest trade deal to be delayed to 2020: Draft ASEAN statement

[I]  Not being part of RCEP will harm India's exports and investment flow, says CII

[I]  Doubts over trade pact at SE Asian summit due to India's new demands

[I]  India starting faceless tax assessment regime to forestall discretion in tax collection: PM

 

BUSINESS STANDARD

[I]  Plastic's loss, jute's gain: Demand for 'golden fibre' boosts jute industry

[I]  FEMA norms may raise investment bar on foreign-owned mutual funds

[I]  Medicines costing less than Rs 5 per dose may be taken out of price control

[I]  China, Southeast Asian states push for RCEP pact despite India's doubts

[I]  Despite unavailability of MAT credit, 60% of firms opt for lower tax regime

[I]  Slowdown blues: As costs spiral, two-wheeler buyers take the credit route

[I]  PM says will further improve tax regime to attract overseas investment

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11968;  USDINR DGCX: 70.6925;  DJIA Mini: 27312;  FTSE 100 Fut: 7297;  NIKKEI 225 Fut: 22940;  EUR-USD: 1.1166; Crude Oil (WTI): 55.98;  Gold (Spot): 1513

 

Best Regards, ARBIND

04 Nov 2019