MACRO ECONOMIC NEWS

THE MONTH OF TRUST, GRACE AND GOD WILL SHOWER PEACE AND HAPPINESS TO ALL. WISHING AN ELEGANT WEEK AHEAD.

Macro Economic News 02 Dec 2019

 

India’s sharp economic slowdown is hurting rural residents as the prices of the commodities they grow and sell are rising more slowly than the things they buy. India will unveil a series of infrastructure projects this month as part of a plan to invest 100 trillion rupees ($1.39 trillion) in the sector over the next five years, the finance minister said on Saturday, in a push to improve the country's economy. Federal Reserve Chairman Jerome Powell recently set a high bar for raising interest rates, one that looks unlikely to be met for a long while. U.S. private-equity firms, armed with a record amount of cash, are struggling to find ways to spend it, as already expensive takeover candidates have gotten even pricier, making many of them too rich for even the most optimistic private-equity buyer. Activity in China’s factories resumed its expansion in November, ending six months of contraction, as domestic and external demand showed signs of improvement. PBOC governor said that China will not resort to quantitative easing and also signalled that policy will stay cautious amid uncertain data.

 

FINANCIAL TIMES

[I]  Goldman to avoid strict financial targets at investor day

[I]  EU’s ambitious new commission set to have wings clipped

[I]  Rising Buttigieg struggles to win over African-Americans

[I]  Indonesia eyes China-backed AIIB to fund new capital city

[I]  Splits widen over climate goals as UN summit gathers

[I]  German car industry faces ‘day of reckoning’

[I]  Chinese tech start-ups pursue growth in Indian market 

[I]  Rating agencies downbeat on corporate India as defaults rise

[I]  In Britain’s dire election, trust is the first casualty

 

REUTERS

[I]  India plans to invest $1.39 trillion in infrastructure to spur economy

[I]  China wants U.S. tariffs rolled back in phase one trade deal: Global Times

[I]  Pound slips as polls tighten, optimism holds on trade front

[I]  New EU Commission head to start with climate summit, Africa trip

[I]  Rising sea levels threaten lives of Mumbai slum dwellers

[I]  New EU Commission head to start with climate summit, Africa trip

[I]  China will not resort to quantitative easing - PBOC governor

[I]  As Juncker bids farewell, new EU executive begins with scrutiny over Luxembourg tax

 

BLOOMBERG 

[I]  The Way Out for a World Economy Hooked On Debt? Yet More Debt

[I]  Too Many Risks for Emerging Markets to Get Lift From China Data

[I]  Japanese Bonds at Turning Point as Hedge Fund Fire-Sale Ends

[I]  PBOC Signals Policy to Stay Cautious Amid Uncertain Data

[I]  Taken to Brink by Trump, Gulf States Are Backpedaling on Iran

[I]  OPEC+ Gambles That U.S. Shale’s Golden Age Is Over

[I]  South Korea Consumer Prices Barely Rise Amid Dim Growth Outlook

[I]  Australia Home Frenzy Back as Prices Surge Most in 16 Years

 

WALL STREET JOURNAL

[I]  Why You Shouldn’t Expect Rates to Head Upward for a While

[I]  Economy Week Ahead: November Jobs Report, Manufacturing Data

[I]  UAW Reaches Tentative Labor Deal With Fiat Chrysler

[I]  Farmers Rushed Into Hemp. Now They Face a Glut.

[I]  Private-Equity Cash Piles Up as Takeover Targets Get Pricier

[I]  India’s Rural Residents Bear Brunt of Economic Slowdown

[I]  China’s Manufacturing Resumes Growth After Six Months of Decline

 

BUSINESS LINE

[I]  WTO: 163 countries agree to make changes in rules governing trade dispute resolution

[I]  Passenger car sales decline in November

[I]  GST collection in November crosses Rs 1 lakh crore

[I]  No alternative to multilateralism in global trade: Karel De Gucht

[I]  Depression alert in Arabian Sea as second low-pressure area forms

[I]  Global coordinating body for sustainable development of blue economy proposed

[I]  India should restart talks with EU: Belgium Minister

 

ECONOMIC TIMES

[I]  Indo-Japan fighter aircraft exercise in Japan in 2020

[I]  Punjab to woo global agri players for sustainable clean agri practices

[I]  Finally, some good news: November GST collections up 6%

[I]  All 16 leaders working to resolve India's concerns over RCEP: Japan

[I]  India will not negotiate any FTA on back foot; will protect India's interest: Piyush Goyal

[I]  View: Fiscal stimulus not enough, monetary easing needed to revive growth

[I]  12 global companies evinced interest to shift base from China to India: Nirmala Sitharaman

 

BUSINESS STANDARD

[I]  Growth in India's energy consumption, power supply hits five-year low

[I]  Car sales drop again after festive season; industry pins hope on Dec demand

[I]  GST mop-up crosses Rs 1 trn in Nov over festive demand, anti-evasion steps

[I]  Indian economy loses sheen amid slowdown: Explained in seven charts

[I]  AAI proposes privatisation of 6 airports including Amritsar, Varanasi

[I]  India leads earnings growth hope in EM pack despite economic slowdown

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 12092;  USDINR DGCX: 71.9425;  DJIA Mini: 28149;  FTSE 100 Fut: 7376;  NIKKEI 225 Fut: 23530;  EUR-USD: 1.1018; Crude Oil (WTI): 56.03;  Gold (Spot): 1460

 

Best Regards, ARBIND
02 Dec 2019