GOOD TO GREATNESS OFTEN LASTS TILL SATURDAY. WISHING A GREAT WEEKEND AHEAD.

Macro Economic News 20 Apr 2019

 

A gauge of U.S. home building and approvals for new projects declined in March, continuing a recent weak stretch for new housing construction. The potential economic impact of a new trade agreement with Mexico and Canada is becoming the subject of a debate in Washington, as the Trump administration seeks to have Congress ratify the agreement. About one in 10 U.S. counties grew in the fiscal year that ended last June primarily because of immigration—a significant increase from 2011—showing how new arrivals are shaping the nation as the population ages and the birthrate slows, new census figures show.

 

FINANCIAL TIMES

[I]  CEOs bet on US pot legalisation within a year

[I]  Juncker questions UK staying in single market

[I]  Germans switch to stock market in search of returns

[I]  Nomura chief warns of severe job cuts in London

[I]  Brexit Britain must avoid self-pity and revenge

[I]  Venture capital’s fate may be written in the stars

 

REUTERS

[I]  Hundreds of thousands back on Algeria's streets, demanding radical reform

[I]  India rice rates dip as demand slows, Bangladesh to review export ban

[I]  Japan officials quash speculation sales tax hike may be delayed

[I]  Russia: U.S. is brazenly meddling in Nord Stream 2 gas project

[I]  New North American trade deal would boost U.S. economy, U.S. commission finds

[I]  U.S. envoy 'disappointed' by collapse of inter-Afghan peace meeting

 

BLOOMBERG 

[I]  Some Better-Than-Expected China Data Can’t Save the World Economy

[I]  BOJ Surprises With Cut to Bond Purchases Ahead of Japan Holidays

[I]  China's Far From Done With Coal as Regulator Eases New Plant Ban

[I]  Inverted Yield Curve Is Waning as a Recession Gauge, BofA Says

[I]  U.S. Housing Starts Fall in March to Weakest Pace Since 2017

[I]  Russia Says It Received Debt Payment From Venezuela on Time

[I]  German Regulator Ends Controversial Ban on Wirecard Short Sales

[I]  Thailand Considers Steps to Stimulate Growth

 

WALL STREET JOURNAL

[I]  U.S. Home Building, Permits Fell Last Month

[I]  Debate Grows Over Likely Effects of Trump’s North American Trade Deal

[I]  Fed’s Kaplan Says U.S. Growth Isn’t Likely to Change His Stance on Rates

[I]  Consumer Spending Rebounded in March

[I]  Immigrants Propel Population Growth in 10% of U.S. Counties

 

BUSINESS LINE

[I]  Bankers hope for less pain as RBI readies new stressed-asset norms

[I]  Sale of assets of Nirav Modi’s US firms fetches $10 m, but PNB can’t rejoice

[I]  Crops in Gujarat, Rajasthan hit by rain; farmers approach govt

[I]  Govt policies leave aviation sector on a wing and a prayer

[I]  Just 5% of water left in Marathwada’s dams

 

ECONOMIC TIMES

[I]  A new tax rule sends many into panic mode

[I]  Oil market likely to be well balanced in 2019, says Saudi energy adviser

[I]  US-China trade tensions may bring down domestic base metals prices

[I]  Oil rally stalls as growth worries vex markets

[I]  Dollar inflows for corporates may give the rupee a lift

[I]  RBI’s 3-year bonds see poor demand as market seeks higher yields

[I]  Business sentiments down by 7.7% in second quarter compared to last year: D&B report

[I]  View: India’s growth numbers are not reflected by other indicators

[I]  RBI Governor Shaktikanta Das, Deputy Viral Acharya split vote on interest rates

 

BUSINESS STANDARD

[I]  Nifty continues winning run, valuations race ahead of pre-Lehman highs

[I]  CBDT's taxation proposal to hit loss-making foreign companies: Experts

[I]  Govt working to directly transfer fertiliser subsidy to farmers

[I]  Credit squeeze, GST hiccups dent India's gems and jewellery exports in FY19

 

Best Regards, ARBIND
20 Apr 2019

THINK OF A NUMBER BETWEEN 1 AND 10. NOW CLOSE YOUR EYES. IT'S DARK ISN'T IT?. WISHING A FUNFILLED DAY AHEAD.

Macro Economic News 19 Apr 2019

 

A narrower U.S. trade deficit in February and stronger-than-expected economic growth in China suggested the global economy’s outlook may be brightening. The potential economic impact of a new trade agreement with Mexico and Canada is becoming the subject of a debate in Washington, as the Trump administration seeks to have Congress ratify the agreement. Retail sales in the U.S. bounced back in March after a stretch of weak spending, another sign that first-quarter growth was stronger than expected. The number of Americans filing applications for new unemployment benefits fell last week to a fresh 50-year low. The Federal Reserve is starting to take notice of climate change and its implications for the U.S. economic outlook.

 

FINANCIAL TIMES

[I]  Regulator seeks to end UK dominance of Big Four auditing

[I]  Italian and French dealmakers play the long game

[I]  Brexit lands a heavy blow on Britain’s constitution

[I]  Actuarial ‘trick’ protects against solvency risks

[I]  A short-sighted view on EU market protections

 

REUTERS

[I]  India suspends cross border trade in Kashmir in new crackdown

[I]  Exclusive: Venezuela skirts U.S. sanctions by funneling oil sales via Russia

[I]  U.S. wins WTO ruling against China grain import quotas

[I]  Japan inflation edges higher but BOJ still in a bind

[I]  Wall Street week ahead: Earnings deluge could make or break sentiment

[I]  U.S. retail sales, labor market data paint upbeat economic picture

[I]  Who will succeed Carney to run Britain's central bank?

[I]  New North American trade deal would boost U.S. economy, U.S. commission finds

 

BLOOMBERG 

[I]  Coal Prices Are Up and U.S. Miners Still Can't Catch a Break

[I]  Best Retail Sales Since 2017 Brighten U.S. Growth Outlook

[I]  Crisis at China's JPMorgan Wannabe Deepens With Bond Defaults

[I]  Asian Stocks Edge Higher in Holiday Hit Trading: Markets Wrap

[I]  Why Is Everyone Worried About Turkey's Foreign Reserves?

[I]  Hedge Funds Aggressively Shorting VIX Shouldn't Ring Alarm Bells

 

WALL STREET JOURNAL

[I]  Consumer Spending Rebounded in March

[I]  Debate Grows Over Likely Effects of Trump’s North American Trade Deal

[I]  Immigrants Propel Population Growth in 10% of U.S. Counties

[I]  Fed’s Kaplan Says U.S. Growth Isn’t Likely to Change His Stance on Rates

[I]  U.S. Jobless Claims Hit Fresh 50-Year Low

[I]  Shrinking U.S. Trade Gap, China Growth Bode Well for Global Economy

[I]  U.S., China Set Tentative Timeline for Next Round of Trade Talks

[I]  Fed Policy Makers Take Notice of Climate Change’s Implications for Economic Outlook

 

BUSINESS LINE

[I]  Profit attribution to PE: CBDT invites public comments on Report

[I]  India’s online retail market to cross $170 billion by FY2030

[I]  Global black tea output goes up despite dip in India production

[I]  Destructive weather may ravage North, East for another day

[I]  RBI proposes framework for testing of products, services by fintech firms

[I]  Why leeway under IBC eludes many MSMEs

 

ECONOMIC TIMES

[I]  PE/VC inflows to top $65 billion mark by 2025: EY

[I]  Euro buoyant on improved economic views, awaits euro zone PMI

[I]  Investors panic as Income Tax seeks details from unlisted companies

[I]  Govt allows only dal millers to import pulses under quota for second year

[I]  RBI inflation goals need to be reviewed: PM's adviser

 

BUSINESS STANDARD

[I]  FPIs in a bind over RBI's voluntary retention route for distressed debt

[I]  Online travel brands are failing to cash in on tourism boom in India

[I]  Govt panel submits report on taxing profits of foreign companies

[I]  CBDT identifies 20.4 million non-filers, asks I-T dept to take action

[I]  RBI releases draft framework for regulatory sandbox to help fintech space

[I]  Don't resort to predatory pricing of tickets: Govt tells airlines

[I]  RBI governor Das flags growth slowdown, Viral Acharya advocates caution

[I]  India's garment exports stagnant on high costs, compliance burden

[I]  Rs 20/kg: Be prepared to shell out more for potatoes in the next few months

[I]  The golden age: PE/VC flow may touch $65 bn by 2025

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11805;  USDINR DGCX: 69.5225;  DJIA Mini: 26566;  FTSE 100 Fut: 7407;  NIKKEI 225 Fut: 22237;  EUR-USD: 1.1242; Crude Oil (WTI): 64.00;  Gold (Spot): 1276

 

Best Regards, ARBIND

19 Apr 2019

OUR WANTS WANT US MORE DESPERATELY THAN WE WANT THEM. WISHING A CONTENTED DAY AHEAD.

Macro Economic News 18 Apr 2019

 

Economic activity continued to grow slowly across the U.S. in the spring but some sectors expected growth to pick up in the coming months, according to a Federal Reserve report.  American manufacturers failed to bounce back last month after slumping earlier in the year, showing that the broader slowdown around the world is pressuring a key sector in the U.S. economy. A narrower U.S. trade deficit in February and stronger-than-expected economic growth in China suggested the global economy’s outlook may be brightening. The U.S. and China have tentatively scheduled a fresh round of face-to-face meetings as they seek to close out a trade deal, according to a person familiar with the situation. Long a path to financial security, traditionally African-American schools are now producing graduates who struggle with disproportionately high debt. “The odds are kind of stacked up against me.”

 

FINANCIAL TIMES

[I]  Turkey props up reserves with short-term borrowing

[I]  Regulator seeks to end UK dominance of Big Four auditors

[I]  Argentina unveils price controls to tame inflation

[I]  China taps stimulus amid slowest growth in 30 years

[I]  Hedge funds realise going long has its rewards  

[I]  Boring banking is exciting again in the US

[I]  Registering EU citizens in the UK will create an underclass

[I]  Brexit lands a heavy blow on Britain’s constitution

 

REUTERS

[I]  Five million lost jobs in India between 2016 and 2018: report

[I]  North Korean leader oversees new tactical weapons test: state media

[I]  Bank of Canada to hold rates until at least early 2020: Reuters Poll

[I]  Euro buoyant on improved economic views, awaits euro zone PMI

[I]  U.S. chipmakers' shares rally despite demand uncertainty

[I]  U.S. trade deficit hits eight-month low on weak Chinese imports

[I]  U.S. labor market remains tight, economy continues to grow: Fed Beige Book

 

BLOOMBERG 

[I]  The World's Most Miserable Economy Has Seven-Figure Inflation

[I]  Health-Care Carnage Is Another Case of Crowded Stocks Unwinding

[I]  Bank of Korea Stands Pat on Key Rate as Downside Risks Increase

[I]  Trump-Xi Deal, China Recovery Query, Inflation Whodunit: Eco Day

[I]  U.K. House Prices Stagnate in March as Buying Activity Plunges

[I]  RBI Inflation Goals Need to Be Reviewed, India PM's Adviser Says

[I]  Auditors Getting Tougher on Korea Inc. in Blessing for Investors

[I]  Taiwan Loans Get Wind Power Boost Amid Best Start Since 2012

 

WALL STREET JOURNAL

[I]  Shrinking U.S. Trade Gap, China Growth Bode Well for Global Economy

[I]  Herman Cain Won’t Withdraw From Consideration for Fed Board

[I]  U.S., China Set Tentative Timeline for Next Round of Trade Talks

[I]  Fed’s Beige Book Sees Slight-to-Moderate Growth

[I]  The Student-Debt Crisis Hits Hardest at Historically Black Colleges

[I]  Trump Administration Offers New Flexibility in Opportunity Zones

[I]  U.S. Manufacturing Hits Soft Patch Tied to Global Slowdown

 

BUSINESS LINE

[I]  IBC reforms: Govt invites views on group insolvency, pre-packs

[I]  Storms in North, West damage wheat crop

[I]  With SC quashing RBI circular, power sector sees debt rejig schemes making a comeback

[I]  Now, a solar rooftop solution in plug-and-play mode

[I]  Storms in North, West damage wheat crop

[I]  Destructive weather may ravage North, East for another day

[I]  RBI may consider table of repo rate changes mapped to policy stance

[I]  Issuance of Govt bonds surges to Rs. 64,192 crore in FY19: ICRA

 

ECONOMIC TIMES

[I]  Rains this year may beat El Nino after 22 yrs

[I]  Oil hits 2019 high on China growth, lower US inventories

[I]  Funding tech incubators can qualify as CSR spend

[I]  Does IMD forecast signal monsoon acing El Nino in 2019?

[I]  5 million men lost jobs since 2016: Report

[I]  Protectionism doesn't really help preserve jobs: Raghuram Rajan

[I]  Easier financing for low-cost homes likely

 

BUSINESS STANDARD

[I]  FAME-II scheme's focus on localisation fails to enthuse two-wheeler makers

[I]  FMCG likely to grow at a slower pace of 12% in 2019, says Nielsen

[I]  Fall in early-stage start-up funding continues: deal value down 37% in Q1

[I]  China can strike India's satellite system despite ASAT test: Report

[I]  Gap between India's underlying economic growth and IIP set to grow further

[I]  India Inc's Achilles heel: BSE500 firms are sitting on a huge cash pile

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11846;  USDINR DGCX: 69.5275;  DJIA Mini: 26392;  FTSE 100 Fut: 7405;  NIKKEI 225 Fut: 22232;  EUR-USD: 1.1293; Crude Oil (WTI): 63.70;  Gold (Spot): 1272

 

Best Regards, ARBIND
18 Apr 2019

WE ARE BLESSED TO BRING PEACE AND HARMONY FOR ALL HUMANKIND. WISHING AN AUSPICIOUS DAY AHEAD.

Macro Economic News 17 Apr 2019

 

Economists at a federal agency are developing distributional measures that describe not just how much the nation produced, but also how much of the income from all of that production went to the poor, the middle class and the rich. American manufacturers failed to bounce back last month after slumping earlier in the year, showing that the broader slowdown around the world is pressuring a key sector in the U.S. economy. Black workers have received far smaller pay increases in recent years compared with other racial groups, despite unemployment for black Americans trending at historic lows. Federal Reserve Bank of Chicago leader Charles Evans said the U.S. central bank should be willing to let inflation overshoot its 2% target, in comments that also indicated more rate increases remain a possibility.

 

FINANCIAL TIMES

[I]  Macron wants Notre-Dame rebuilt in 5 years

[I]  Germany warns Britain cannot get new Brexit extension

[I]  German economic outlook brightens after a year of gloom

[I]  China house prices rise signals economic rebound

[I]  US companies reveal pay gap between bosses and workers

[I]  Internet has played a part in limiting capex

 

REUTERS

[I]  China first quarter GDP growth steady at 6.4 percent year-on-year, beats expectations for slowdown

[I]  Asia relieved as China data point to recovery

[I]  Japan exports hit by weak China demand, raising risk of economic contraction

[I]  Gold near four-month low as stocks, dollar weigh

[I]  Bank of Japan ready to deploy monetary policy tools to fight crisis: deputy governor

[I]  Global steel demand slows as China economy falters and trade war hits

[I]  U.S. manufacturing output flat as auto production falls

[I]  UK marketing spending rises despite Brexit, uncertainty clouds forecast: survey

 

BLOOMBERG 

[I]  Reform Landscape for Next Five Years at Stake: Indonesia Votes

[I]  Larry Kudlow Says ‘Very Good Progress’ Being Made in China Talks

[I]  China's Economic Growth Unexpectedly Held Up in First Quarter

[I]  Japan, U.S. Will Accelerate Talks Toward Trade Deal, Motegi Says

[I]  Health Stocks Take $28 Billion Beating in Medicare-for-All Fight

[I]  Foreign Investors Dream of a World With More China Bond Futures

[I]  A Property Boom Is Coming to China's Smaller Cities

 

WALL STREET JOURNAL

[I]  Government to Measure Who Gets What Share of the Economic Pie

[I]  U.S. Manufacturing Hits Soft Patch Tied to Global Slowdown

[I]  As Wages Rise, Black Workers See the Smallest Gains

[I]  Kudlow Says It’s Up to Cain Whether to Bow Out or Not

[I]  New U.S. Policy on Cuba Sanctions Threatens EU Ties

[I]  Fed Official Open to Adopting an Inflation Target Range

[I]  Fed’s Evans: Rate Rises Still Possible If Economy Meets Expectations

 

BUSINESS LINE

[I]  EU-India talks on re-testing of imported steel products fail

[I]  EU-India discussions on re-testing of imported steel products fail to cut ice

[I]  Workforce needs to enter digital age: experts

[I]  Dairy development board lab made referral centre for milk products

[I]  India Inc forex borrowing to pick up pace in FY20: Ind-Ra

[I]  Travel companies come up with short-stay plans for long weekend

 

ECONOMIC TIMES

[I]  Volatility in rupee likely to remain low this week

[I]  Bond rally in India faces another headwind: Monsoon season

[I]  ADB committed highest-ever USD 3 billion in sovereign loans to India in 2018

[I]  We want balanced trade with India: Chinese envoy

[I]  India is said to have cut trade deficit with China by $10 billion

 

BUSINESS STANDARD

[I]  Mauritius puts India-focussed funds, others under its regulatory lens

[I]  PFRDA considers issuing on-tap licences for pension fund managers

[I]  Exports miss target again as global trade wars, GST glitches take toll

[I]  Banks must flag bad loans as NPAs after 90-day default: RBI to NCLAT

[I]  Revival in investor sentiment for NBFCs may be a long-drawn process

[I]  High-frequency trading surges manifold amid heightened market volatility

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11822;  USDINR DGCX: 69.6575;  DJIA Mini: 26471;  FTSE 100 Fut: 7413;  NIKKEI 225 Fut: 22285;  EUR-USD: 1.1301; Crude Oil (WTI): 64.51;  Gold (Spot): 1277

 

Best Regards, ARBIND

17 Apr 2019