MACRO ECONOMIC NEWS

THERE IS MORE TO LIFE ON MONDAY THAN SPLENDID SUNDAY. WISHING A MAGNIFICENT WEEK AHEAD.

Macro Economic News 09 Dec 2019

 

As per RBI, India Inc foreign borrowings jump over two-fold to $3.41 bn in Oct and IHS Markit estimates India’s real GDP growth in FY20 to be below 5 per cent while 373 infra projects show cost overruns of Rs 3.89 lakh crore. Trade war goes digital: countries eye tariffs on Internet economy, estimated having “electronic transmissions” worth up to $255 billion a year. Beijing orders removal of foreign computers and software while Central bank of China estimates China's potential growth below 6% over next 5 years. The unconventional tools the Federal Reserve deployed to stimulate the economy after the 2008 financial crisis probably won’t have the same power to spur growth in another downturn. Iran's presented a draft state budget of about $39 billion to parliament, saying it was designed to resist U.S. sanctions by limiting dependence on oil exports. Central Bank of Indonesia says, Indonesia is facing ‘New Norm’ of low inflation. Disappointing Economic Data May Kill Off Aussie’s Recent Rebound while its GDP, retail sales, capital expenditure all missed forecasts and its key test of trading range looms in descending trendline. Now Repo distortions are emerging in Europe’s $9 trillion market.

 

FINANCIAL TIMES

[I]  Beijing orders removal of foreign computers and software

[I]  Hedge funds deepened repo market chaos, says BIS

[I]  Italy poised to give emergency aid to steel industry

[I]  Iran to raise taxes as US sanctions hit oil revenues

[I]  US business fears weakening of Nafta trade revamp

[I]  Cement price rise points to surge in China construction

 

REUTERS

[I]  Johnson pledges transformative Brexit as nerves are rattled by UK polls

[I]  Japan upgrades third quarter GDP as consumer, business strength absorbs hit from trade

[I]  Tighter climate policies could erase $2.3 trillion in companies value: report

[I]  France willing to delay pension reform timing as strikes continue

[I]  Iran outlines budget to resist U.S. sanctions as oil exports plunge

[I]  Trade war goes digital: countries eye tariffs on Internet economy

[I]  France ready to take Trump's tariff threat to WTO: Le Maire

[I]  China's potential growth below 6% over next 5 years: central bank adviser

[I]  China November exports fall, but import growth hints of recovering demand

 

BLOOMBERG 

[I]  China’s Unexpected Export Drop Shows Why It Wants a Trade Deal

[I]  Repo Blowup Was Fueled by Big Banks, Hedge Funds, BIS Says

[I]  Banks May Need Political Help to Survive Big Tech: a Nordic View

[I]  Japanification Is the Scourge Threatening to Go Global in 2020

[I]  Goldman Lifts 2020 Oil Forecasts as OPEC Cuts Tighten Market

[I]  ‘Quantitative Failure,’ Fed and ECB, China Export Slump: Eco Day

[I]  Indonesia Facing ‘New Norm’ of Low Inflation, Central Bank Says

[I]  Singapore’s Property Glut Could Take Years to Clear

[I]  Disappointing Economic Data May Kill Off Aussie’s Recent Rebound

[I]  Danger Lurks for Currency Market If Volatility Recurs, BIS Says

[I]  Now Repo Distortions Are Emerging in Europe’s $9 Trillion Market

 

WALL STREET JOURNAL

[I]  In the Next Downturn, Fiscal Policy May Have to Step Up

[I]  Economy Week Ahead: Fed Interest Rate Decision, U.S. CPI

[I]  Strong U.S. Hiring Eases Concerns About Economy

[I]  November Jobs Report Affirms Fed Officials’ Make-No-Moves Stance

[I]  Brace for the Digital-Money Wars

[I]  Mexico’s Polarizing President Presides Over Rising Violence, Flailing Economy

 

BUSINESS LINE

[I]  New household consumer expenditure survey to begin in July

[I]  Trade may regress to an era of power politics, warns India

[I]  India’s real GDP growth in FY20 to be below 5 per cent: IHS Markit

[I]  India Inc’s overseas borrowings jump over two-fold to $3.41 bn in October

[I]  China clampdown on illegal meat eats into India’s trade

 

ECONOMIC TIMES

[I]  How does Data Protection Bill stack up?

[I]  The missing point in global climate debate

[I]  Getting MBBS degree could soon be cheaper

[I]  Not many new players will enter UPI space: Report

[I]  373 infra projects show cost overruns of Rs 3.89 lakh crore

[I]  Personal Data Protection Bill: India’s digital safety kit

 

BUSINESS STANDARD

[I]  Govt plans clinical trials debut to ensure faster availability of new drugs

[I]  Co-op banks may come under banking act, forced conversion not ruled out

[I]  Govt plans additions to auditors' rulebook; stricter norms on the cards

[I]  India Inc foreign borrowings jump over two-fold to $3.41 bn in Oct: RBI

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11953;  USDINR DGCX: 71.4075;  DJIA Mini: 27992;  FTSE 100 Fut: 7222;  NIKKEI 225 Fut: 23440;  EUR-USD: 1.1055; Crude Oil (WTI): 58.97;  Gold (Spot): 1459

 

Best Regards, ARBIND
09 Dec 2019