MACRO ECONOMIC NEWS

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Macro Economic News 24 Dec 2019

 

In a light week for economic news, the U.S. will offer snapshots of the manufacturing and housing sectors while Japan will offer an update on its jobs market and retail sales. Demand for long-lasting factory goods made in the U.S. fell in November, suggesting the manufacturing sector remained uneven last month. Canada’s economy unexpectedly shrank 0.1% in October, following steep retreats in manufacturing and retail sales. FT poll suggests that Christine Lagarde is expected to change ECB inflation target while BOJ debated monetary, fiscal policy mix as cost of ultra-low rates rises. Brazil proposes central bank bill to gird against banking crisis while RBI chief says, some green shoots are sprouting in the economy. Queen stresses reconciliation after bruising Brexit year. Top US official opines collapse of China’s global spending spree. IMF suggests India needs fiscal-consolidation path to reduce debt in the wake of rise of defaults in Asia with hot spots in China, India. In a first of its simultaneous OMO, RBI bought more bonds than it sold. Commerce Ministry wants stricter rules on trade remedies to be implemented soon aligning RBI capping of lending on P2P platforms at Rs 50 lakh. PFRDA wants government to double tax benefit under NPS to Rs 1 lakh whereas benchmark indices scale fresh peak with Sensex valuation nearing 20-yr high.

 

FINANCIAL TIMES

[I]  Climate costs mount as retailers compete on fast delivery

[I]  FT poll: Christine Lagarde expected to change ECB inflation target

[I]  China’s global spending spree will collapse, says top US official

[I]  Spain’s businesses worried by prospect of radical left

[I]  Fire and flood focus minds of bosses and investors

[I]  Corporate Scrooges shown spectral vision of purpose over profit

[I]  The spirit of endeavour has not dimmed in 2019

 

REUTERS

[I]  Indian November imports of Latin American oil slump to 20-month low - data

[I]  BOJ debated monetary, fiscal policy mix as cost of ultra-low rates rises

[I]  Turkey, Russia talk Syria as thousands flee bombing

[I]  California to toughen group discounts regulations in auto insurance

[I]  Queen stresses reconciliation after bruising Brexit year

[I]  Brazil proposes central bank bill to gird against banking crisis

[I]  Shares inch to new highs on trade hopes; dollar little changed

[I]  U.S. business spending on equipment weak; housing regaining footing

[I]  Disruptive decade: 10 things the teen years brought world markets

 

BLOOMBERG 

[I]  Animal Spirits in India Show the Slowdown May be Bottoming Out

[I]  China Widens Economic Policy Blitz With Cash Injection Pledge

[I]  Hong Kong Residents Eye Apartments Overseas as Protests Drag On

[I]  India Needs Fiscal-Consolidation Path to Reduce Debt, IMF Says

[I]  Euphoria, Greed and Fear Mark 2010s for Commodities Investors

[I]  Defaults in Asia Set to Rise With Hot Spots in China, India

[I]  U.S. New-Home Sales Rise to Cap Best Three Months Since 2007

 

WALL STREET JOURNAL

[I]  China to Cut Tariffs on Range of Goods Amid Push for Trade Deal

[I]  U.S. Durable Goods Orders Fell in November

[I]  Fed Confronts Lack of Diversity in Its Ranks

[I]  Canada GDP Unexpectedly Contracts in October

[I]  Newsletter: The High Cost of Rising Car Prices

 

BUSINESS LINE

[I]  $ 5-trillion economy achievable, but focus should be on employment generation: Assocham

[I]  Gap between requirement and collection of cess likely to go above ₹63,000 crore

[I]  White paper to reduce tax burden on steel sector in the offing

[I]  Some green shoots are sprouting in the economy, says RBI chief

[I]  Commerce Ministry wants stricter rules on trade remedies to be implemented soon

 

ECONOMIC TIMES

[I]  How govt plans to lure phone cos to India

[I]  Here's where the jobs will be in 2020

[I]  Haryana approves 40 horticulture projects

[I]  Lower tax revenue forecast a worry for the southern states

[I]  RBI caps lending on P2P platforms at Rs 50 lakh

[I]  PFRDA wants government to double tax benefit under NPS to Rs 1 lakh

[I]  Companies under IBC process may get GST relief

 

BUSINESS STANDARD

[I]  As benchmark indices scale fresh peak, Sensex valuation nears 20-yr high

[I]  RBI conducts first simultaneous OMO, buys more bonds than it sells

[I]  Who will approve and release official surveys? Draft NSC Bill stays silent

[I]  Govt rejects plea for extension to SEZ units for importing plastic scrap

[I]  Govt refuses to share Swiss a/c details of Indians, cites confidentiality

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 12266;  USDINR DGCX: 71.3075;  DJIA Mini: 28555;  FTSE 100 Fut: 7560;  NIKKEI 225 Fut: 23730;  EUR-USD: 1.1087; Crude Oil (WTI): 60.49;  Gold (Spot): 1488

 

Best Regards, ARBIND
24 Dec 2019