MACRO ECONOMIC NEWS

THE JOVIAL GOD CRAFTS INNOCENT FUN FOR US TO CHERISH; CHILDLIKE. WISHING A PRICELESS DAY AHEAD.

Macro Economic News 18 Dec 2019

 

Argentina grows faster than expected, ending 18-month recession while EU-China investment treaty talks in jeopardy. The dollar rose amid concerns about a hard deadline for Britain to reach a new trade deal with the European Union, while global equity markets edged higher, lifted by a resurgent U.S. housing market that bodes well for the economy. U.S. factory production rebounded strongly in November while Japan's exports shrink for 12th month as U.S. China demand falls. Japan joins the babysitters club to keep working moms at their desks. BOJ to sit tight as Abe stimulus adds to brighter outlook. Indian budget likely to cut tax rates for individual taxpayers however, CII thinks Income tax cut can wait till bigger issues are resolved. As per oil ministry, India aims to invest in producing oil and gas fields abroad to compensate for falling domestic output and to help reduce the impact of oil price volatility. Agriculture sector seeks building brands of its products abroad while Govt is talking to 25 large corporates in bid to resolve problems and boost investment along with launching of the National Broadband Mission to provide broadband access to all villages by 2022, at an estimated stakeholder investment of Rs 7 trillion.

 

FINANCIAL TIMES

[I]  EU-China investment treaty talks in jeopardy

[I]  US industrial output rebounds driven by auto production

[I]  Poland’s top court warns reforms could force EU exit

[I]  Johnson has signalled his negotiating strategy

 

REUTERS

[I]  Indian budget likely to cut tax rates for individual taxpayers, sources say

[I]  TRAI defers abolition of telecom interconnection fees by a year

[I]  Japan's exports shrink for 12th month as U.S., China demand falls

[I]  Pound plunges as hard Brexit fears revived

[I]  Sterling falls on new Brexit fears, stocks edge higher

[I]  India aims to buy stakes in producing oil and gas fields abroad

[I]  Britain threatens Brexit cliff-edge to force EU trade deal by December 2020

[I]  U.S. job openings rise from 18-month low in October

 

BLOOMBERG 

[I]  China Liquidity Jitters Are About to Test Bond Market Again

[I]  Big VIX Call Options Trade Suggests Re-Emergence of ‘50 Cent’

[I]  Singapore Easing Property Curbs Seen Unlikely as Election Looms

[I]  Shipping Industry Plans Its Own $5 Billion Climate Change Fund

[I]  The Richest Nordic Economy Can’t Afford More Central Bank Hikes

[I]  U.K. Wins Stronger Credit Assessment Following Johnson’s Victory

[I]  BOJ to Sit Tight as Abe Stimulus Adds to Brighter Outlook: Guide

[I]  Argentina Grows Faster Than Expected, Ending 18-Month Recession

[I]  U.K. Business Faces End of Honeymoon as Johnson Boycotts Davos

 

WALL STREET JOURNAL

[I]  U.S. Factory Production Rebounds in November

[I]  Lawmakers Reach Late and Narrow Tax-Break Deal

[I]  House Approves Spending Bills, in Effort to Avoid Shutdown

[I]  Fed’s Kaplan Expects No Change in Rates in 2020

[I]  Japan Joins the Babysitters Club to Keep Working Moms at Their Desks

[I]  Two Fed Officials Say Rates Should Hold Steady

 

BUSINESS LINE

[I]  CII report paints a bleak picture of trade scenario

[I]  Government may raise FDI cap in insurance to 74%

[I]  Negotiations still open on validity of existing carbon credits

[I]  FinMin sets monthly target of ₹1.1-lakh cr GST mop up

[I]  India’s gender gap widens, slips 4 places in WEF survey

 

ECONOMIC TIMES

[I]  Your PF money in startup fund?

[I]  Industry seeks fewer GST slabs

[I]  Customer plaints at RBI offices surge 20% in 2018-19

[I]  Agriculture sector seeks building brands of its products abroad

[I]  Unlikely to meet tax revenue target in 5 years, government tells finance panel

[I]  Moody's downgrade: Restricted demand revival predicted

[I]  Foresaw slump, hence previous rate cuts: Shaktikanta Das

[I]  Income tax cut can wait till bigger issues are resolved: CII

[I]  Govt talking to 25 large corporates in bid to resolve problems, boost investment

 

BUSINESS STANDARD

[I]  Benchmark indices touch all-time highs on easing US-China trade tensions

[I]  Advance corporation tax mop-up drops over 5% in Dec quarter to Rs 73,000 cr

[I]  PE/VC investment up by almost three times in November; driven by infra flow

[I]  Farmers to earn 9% profit over lower kharif, higher rabi output: CRISIL

[I]  Rs 7-trn plan to provide internet access to rural areas by 2022 launched

[I]  Industry demands export promoting measures, simplification of labour laws

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 12194;  USDINR DGCX: 71.1075;  DJIA Mini: 28281;  FTSE 100 Fut: 7523;  NIKKEI 225 Fut: 23900;  EUR-USD: 1.1135; Crude Oil (WTI): 60.51;  Gold (Spot): 1476

 

Best Regards, ARBIND
18 Dec 2019