MACRO ECONOMIC NEWS

THE TIME IS TO CELEBRATE LIFE; IT’S NEITHER EARLY NOR LATE TO REJOICE. WISHING A MESMERIZING WEEKEND AHEAD.

Macro Economic News 14 Dec 2019

 

The U.S.-China trade deal is expected to deliver muted benefits to the American economy, leaving in place most tariffs on Chinese goods and uncertainty for the world’s two largest economies. US retail sales advanced at a modest pace in November. FED New York President John Williams said that the outlook for the U.S. economy remains pretty good but central bankers will need to respond to unexpected events should they arise. U.K. Prime Minister Boris Johnson pledged to move quickly to take Britain out of the EU, while promising to deliver billions of pounds in public spending. The Saudi crown prince appears having cemented his own control, as well as liberalising the economy. Japanese business sentiment sours for fourth straight quarter while BOJ seen holding fire as trade war fears ease. The Chief Economic Advisor of India said that Govt is focusing on increasing consumption to boost economic growth while Finance Minister assured of more measures to boost economy as and when required. Prices of 12 essential drugs were hiked by 50%. India's services exports grew by over 5% to USD 17.70 billion in October although India's exports fell for 4th straight month and imports for 6th, in November. While Forex reserves soars $2.3 bn to touch all-time high of $453 bn, Moody’s cuts India’s GDP growth forecast to 5.6 per cent for 2019.

 

FINANCIAL TIMES

[I]  US and China strike deal to de-escalate trade war

[I]  Beijing pledges to buy $200bn of goods while Washington scales back some tariffs

[I]  Boris Johnson’s chance to forge a new role for Britain

[I]  The Saudi crown prince has cemented his own control, as well as liberalising the economy

[I]  UN climate talks go into overtime as countries fail to agree

[I]  Japanese business sentiment sours for fourth straight quarter

[I]  Repo blame game moves focus to hedge funds

 

REUTERS

[I]  Fate of global climate action 'in the balance' as U.N. talks go down to wire

[I]  U.S.-China trade deal cuts tariffs for Beijing promise of big farm purchases

[I]  Fed policymakers see U.S. economy on good footing

[I]  Indian gold sold at discount as wedding demand disappoints

[I]  German balanced budget policy should not be a fetish - Bundesbank chief

[I]  Lacklustre U.S. retail sales cast shadow on Q4 economic growth 

[I]  BOJ seen holding fire as trade war fears ease, may warn of soft output 

 

BLOOMBERG 

[I]  The Three-Year Crisis Cycle and a Case for a Reborn Bull Market

[I]  Charting the World Economy: Fed Stokes the Hot U.S. Jobs Market

[I]  Phase-One China-U.S. Trade Deal: What’s In and What’s Missing?

[I]  Hedge Funds Grow More Bullish on Coffee as Brazil’s Reserves Vanish

[I]  U.K. Rainmakers Eye Return to Dealmaking After Tory Election Win

[I]  Argentina’s President Says He’ll Keep Teaching College Law Class

 

WALL STREET JOURNAL

[I]  U.S.-China Deal Eases, But Doesn’t End, Business Uncertainty

[I]  U.S., China Agree to Limited Trade Deal

[I]  Holiday Retail Sales Had a Lackluster November Start

[I]  Boris Johnson Sees Victory as Mandate for Swift Brexit

[I]  Fed’s Williams Says Central Bank Should Be Flexible as Data Evolves

[I]  Fed Adds $56.45 Billion in Liquidity to Navigate the Weekend

 

BUSINESS LINE

[I]  Electricity demand dips because of longer monsoons, early winter

[I]  Climate change-induced variations impact weather and rain patterns

[I]  Exports fall marginally to $25.98 billion in November

[I]  Govt focusing on increasing consumption to boost economic growth: CEA

[I]  Moody’s cuts India’s GDP growth forecast to 5.6 per cent for 2019

[I]  More measures to boost economy as and when required, says FM

[I]  Prices of 12 essential drugs hiked by 50%

 

ECONOMIC TIMES

[I]  Is policy paralysis weighing the Indian economy down?

[I]  CEA on how India's job landscape is changing

[I]  The road that India's rich are now taking

[I]  White-collar fetish is skewing the jobs scene

[I]  World Bank report projects strong long-term potential for Northeast

[I]  India's services exports grew by over 5% to USD 17.70 billion in October: RBI data

[I]  IT to get tax relief from redefined ‘intermediary’

 

BUSINESS STANDARD

[I]  RBI considers extending bank-like vigil on NBFCs, cooperative banks

[I]  As CSR spends touch Rs 12,000 cr, investigators stalk ghost beneficiaries

[I]  Negative real interest rate no cause for concern, say economists

[I]  Banks that lend to NBFCs may face increase in their bad loans: Moody's

[I]  India's exports fall for 4th straight month, imports for 6th, in November

[I]  Forex reserves soar $2.3 bn to touch all-time high of $453 bn: RBI data

 

Best Regards, ARBIND
14 Dec 2019