LORD IS COMING TO BLESS US WITH ABUNDANCE AND HAPPINESS ALL AROUND. WISHING A HOLISTIC WEEKEND AHEAD.

Macro Economic News 31 Aug 2019

 

President Donald Trump said, “Trade teams from China and the United States continue to talk and will meet in September, but tariff increases on Chinese goods set to go in place on Sunday will not be delayed”. U.S. households ramped up their spending in July, providing reassurance that the economy’s decade long expansion continued to roll despite slowing factory activity and global growth. U.S. household sentiment fell in August from the earlier month amid concerns over a trade war. German retail sales face biggest fall of 2019 amid economic gloom. India’s economy grew at its weakest pace since 2013 between April and June as consumer demand and government spending slowed amid global trade frictions, raising chances of the central bank cutting interest rates further at its next meeting.

 

FINANCIAL TIMES

[I]  India to merge state-owned banks as economic growth slows

[I]  German retail sales face biggest fall of 2019 amid economic gloom

[I]  India’s economic growth rate drops to slowest in six years

[I]  US consumers spend as inflation undershoots Fed target

[I]  UK banks plan transaction levy to compensate fraud victims

[I]  UK dividend payments hit historic highs

 

REUTERS

[I]  GDP growth hits 6-year low, more stimulus expected

[I]  India announces series of state-run bank mergers to strengthen lenders

[I]  China's service sector activity grows at quicker pace in August: official PMI

[I]  China's factory activity shrinks for fourth month as trade pressure mounts

[I]  IMF board to meet for informal session about Argentina -spokesperson

[I]  Argentina curbs banks' access to pesos amid growing market turmoil

[I]  U.S. and China will meet in September, Trump says, but tariff hikes remain

[I]  Trump says euro dropping 'like crazy' against dollar, blames Fed

[I]  Strong consumer spending propping up U.S. economy

 

BLOOMBERG 

[I]  Emerging Markets Are Often Bad in August, But Rarely This Bad

[I]  Trump’s New Trade War Tool Might Just Be Antique China Debt

[I]  Euro Falls to Two-Year Low Amid Trade Concerns, Trump Ire

[I]  August Chaos Has U.S. Treasury Returns Set for Post-Crisis Highs

[I]  U.S. Consumer Sentiment Falls Most Since 2012 on Trade Fears

[I]  Global Banks Prepare Their Next Moves as Johnson Steps Up Brexit Plans

[I]  U.S. Personal Spending Increased More Than Forecast in July

 

WALL STREET JOURNAL

[I]  Strength in U.S. Consumer Spending Drives Economy

[I]  Historic Asset Boom Passes by Half of Families

[I]  Inflation Picked Up in July

[I]  U.S. Consumer Sentiment Declined at End of August

[I]  Trump Says Companies, Not Trade Policies, to Blame for Business Setbacks

[I]  U.S. Growth Slows, Corporate Profits Rise

 

BUSINESS LINE

[I]  India's GDP growth down to 5% in April-June quarter

[I]  Fiscal deficit crosses 77% of annual target in July

[I]  India nudges Russia to get OPEC to price oil at reasonable rates

[I]  Onion prices continue to rule at around ₹50/kg in Delhi

[I]  8.65 per cent interest on EPF to be notified soon: Labour Minister

[I]  Met sees normal rainfall across India till Sept 11

 

ECONOMIC TIMES

[I]  What a dismal 5% GDP growth rate means for you and me

[I]  Big bank mergers: Govt turns ten PSBs into four

[I]  Forex reserve falls below $430 billion, down $1.45 billion

[I]  India’s growth slowdown set to deepen as consumers buckle

[I]  Acreage under kharif crops nears last year's level

[I]  Bilateral trade in rupee-rouble up 5-fold during Modi govt

[I]  India 9th on happiness index among 28 nations: Survey

[I]  Fiscal deficit touches Rs 5.47 lakh crore at July-end

 

BUSINESS STANDARD

[I]  Govt moves to reform bank boards: The six new rules you should know

[I]  RBI's present fund transfer grossly inadequate, says Piyush Goyal

[I]  Manufacturing growth dips to 0.6% over slackening demand, global headwinds

[I]  GDP data confirms demand slowdown; consumption expenditure at 17-qtr low

 

Best Regards, ARBIND

31 Aug 2019

ALL OF US HAVE THE ABILITY TO CREATE HAPPINESS AROUND US, ESPECIALLY WHEN FRIDAY IS MONTH’S LAST WORKING DAY. WISHING A CHEERFUL DAY AHEAD.

Macro Economic News 30 Aug 2019

 

India's economy likely expanded at its weakest pace in more than five years in April-June, as consumer demand and private investment weakened at a time global trade frictions have dampened business. The U.S. economic expansion cooled as it reached its 10th anniversary, despite strong pickups in corporate profits and consumer spending in the second quarter, with longer-run forces weighing on the outlook ahead. Chinese under 30 aren’t savers like their parents and grandparents. Russians struggle under burden of soaring consumer loans. Worst unemployment in decades strains Indian consumer loans in India.

 

FINANCIAL TIMES

[I]  Peso slides as Argentina seeks more time to pay

[I]  Russians struggle under burden of soaring consumer loans

[I]  US companies unlikely to heed Trump’s call to leave China

[I]  Johnson seeks to avert defeat by accelerating Brexit talks

[I]  Lagarde urges eurozone to reform budget rules

[I]  Mexico set to allow state group to resume private oil ventures

[I]  Central banks can no longer afford to act in isolation

 

REUTERS

[I]  India's economic growth seen slipping in April-June, more stimulus expected

[I]  Yen backpedals on hopes of easing U.S.-China trade tensions

[I]   China's factory activity seen contracting for fourth straight month

[I]  Emerging markets hit by worst outflows since Trump election: IIF

[I]  U.S. economy slowing, but consumers limiting downside

[I]  Worries mount for UK businesses and consumers as Brexit crisis builds - surveys

 

BLOOMBERG 

[I]  Mnuchin Risks Unsettling Markets With Ultra-Long Treasury Bonds

[I]  Australia Is About to Run a Surplus at Precisely the Wrong Time

[I]  Dark Days May Soon Be Over for Singapore Stocks

[I]  Trump’s New Trade War Tool Might Just Be Antique China Debt

[I]  Speculators Are Already Rushing to Buy Land Around Indonesia's New Capital

[I]  Modi's $5 Trillion GDP Goal Hits a Hurdle: Debt at Road Builder

[I]  RBA Deficit Dilemma, Hong Kong Pain, Korea Rate Guide: Eco Day

[I]  Argentine Mutual Funds Block Redemptions as Locals Rush for Exit

[I]  India’s Growth Slowdown Set to Deepen as Consumers Buckle

 

WALL STREET JOURNAL

[I]  U.S. Growth Slows, Corporate Profits Rise

[I]  Trump Defends China Stance Amid Worries About Economic Impact

[I]  U.S. Companies Say Trade War Is Hitting China Operations

[I]  Young Chinese Spend Like Americans—and Take on Worrisome Debt

[I]  China Studying Tech Companies’ Exposure to U.S. Suppliers

[I]  Trump Administration Close to Expanding Overtime Pay

 

BUSINESS LINE

[I]  India’s economic growth seen slipping in April-June: Poll

[I]  ADB willing to lend over $12 billion to India over the next three years

[I]  Railways to invite bids from cos interested in running trains

[I]  Current slowdown a cyclical downswing: RBI

[I]  Auto sector to end FY20 on a weak note despite stimulus package

[I]  Despite mild inflation, crops expected to get better prices

[I]  Back-to-back lows to keep monsoon roaring over North India

 

ECONOMIC TIMES

[I]  Privacy Bill may give ecomm data a miss

[I]  Will announce more economic boosters soon: FM

[I]  RBI gives a peek into its coffers after govt payout

[I]  Little room available for fiscal stimulus: RBI report

[I]  Post drought like conditions cause lower cane production

[I]  Kharif production to decline in 2019, post 3 years of record high production

[I]  Fruits and vegetables output records flat growth

[I]  Worst unemployment in decades strains Indian consumer loans

[I]  Govt adopting interventionist approach to revive growth

[I]  India offers a bargain to the world: Our consumers, your jobs

 

BUSINESS STANDARD

[I]  Govt's surcharge rollback fails to curb FPI selling spree, say experts

[I]  We haven't seen any slowdown in client spending: Nasscom chairman

[I]  Demand woes, downgrades keep sheen off steel industry, say analysts

[I]  New FDI norms: Key online media companies feel the pinch of 26% cap

[I]  More than 40 global brands may go online soon in India after FDI reforms

[I]  New FDI norms: Govt plans mega meet to fast-track Make in India

[I]  Q1 GDP growth likely to be weaker at 5.5%, says RBI annual report

[I]  NBFC funding to commercial sector plunges 20% in FY19: RBI annual report

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10996;  USDINR DGCX: 71.9725;  DJIA Mini: 26440;  FTSE 100 Fut: 7197;  NIKKEI 225 Fut: 20720;  EUR-USD: 1.1044; Crude Oil (WTI): 56.58;  Gold (Spot): 1526

 

Best Regards, ARBIND
30 Aug 2019

BEING GENEROUS WITH HUMBLE HUMANITY IS THE REAL WEALTH. WISHING AN AFFLUENT DAY AHEAD.

Macro Economic News 29 Aug 2019

 

India set to outlaw six single-use plastic products. India eases foreign investment rules for several sectors to boost growth. India Ratings & Research (Ind-Ra) lowered its projections on India’s GDP growth rate by 60 basis points to 6.7 per cent during the current fiscal year.  Global bond yields flirted with record low levels while stocks struggled to recover as economic turbulence from intensifying U.S-China frictions and the spectre of a no-deal Brexit drove investors to safer harbours. Lawmakers and 2020 candidates offer a range of options focused on capturing some of the trillions of dollars in assets belonging to the nation’s richest. South Korea’s birth rate falls to new developed world low.

 

FINANCIAL TIMES

[I]  Uproar as Johnson shuts parliament to protect Brexit

[I]  De Beers hits a rough patch as diamond sales slide

[I]  US expresses alarm over South Korea rift with Japan

[I]  Israel’s shadow war against Iran laid bare by raids

[I]  Decline in new German wind farms sparks concern

[I]  South Korea’s birth rate falls to new developed world low

[I]  Australia targets Chinese influence on university campuses

 

REUTERS

[I]  India set to outlaw six single-use plastic products: sources

[I]  India eases foreign investment rules for several sectors to boost growth

[I]  India to provide subsidy to export 6 million tonnes sugar in 2019/20

[I]  British PM to suspend parliament before Brexit, opposition denounces 'coup'

[I]  BOJ policymaker warns of dangers of more monetary easing

[I]  Argentina says to extend maturities of international bonds, IMF debt

[I]  Bond yields near record lows, shares struggle on darkening global outlook

[I]  Rate cuts not enough to re-fire damp India housing market: Reuters poll

[I]  Brazil says India's subsidy will extend cycle of low sugar prices

 

BLOOMBERG 

[I]  China’s Slowdown Deepens in August, Early Indicators Show

[I]  Daly Says Low U.S. Inflation Means Fed Can Draw More Job Gains

[I]  Worst Unemployment in Decades Strains Indian Consumer Loans

[I]  Argentina Seeks to Extend Maturity of $101 Billion of Debt

[I]  These Are the Safest Cities in the World Right Now

[I]  U.S. Yield Curve Steepens as Mnuchin Considers Longer-Term Bonds

[I]  As Bets on an Argentina Default Grow, IMF Is Last Bastion of Hope

[I]  Mexico Central Bank Cuts Growth Forecast to Lowest Since 2009

[I]  U.S. Corporate Bonds Are Having the Best August in Four Decades

 

WALL STREET JOURNAL

[I]  Has America’s China Backlash Gone Too Far?

[I]  Fed’s Barkin Not Convinced Low Inflation Calls for Rate Cut

[I]  Transcript: WSJ Interview With Dallas Fed President Robert Kaplan

[I]  Fed Rejects Call to Consider Politics in Policy Decisions

[I]  Home-Price Growth Continued to Slow in June

[I]  Democrats’ Emerging Tax Idea: Look Beyond Income, Target Wealth

 

BUSINESS LINE

[I]  Ind-Ra cuts growth estimate for current fiscal to six-year low of 6.7%

[I]  Auto parts, leather sectors see opportunities in US-China trade war, but challenges exist

[I]  Union cabinet meet: Govt eases FDI rules for single-brand retail

[I]  EV sector is a challenge and an opportunity: ARAI director

[I]  FPI surcharge rollback: No differential regime between foreign, domestic investors, says CBDT

[I]  Rate cuts not enough to revive property market growth

 

ECONOMIC TIMES

[I]  India's economic woes may improve by March

[I]  Worst unemployment in decades strains Indian consumer loans

[I]  New sops to check yarn exports fall

[I]  US-China trade dispute presents opportunity for India

[I]  India and Russia eye dairy, diamond biz to give age-old ties a new shine

[I]  After incentives to perk up economy, red carpet for FDI

 

BUSINESS STANDARD

[I]  FDI norms eased for single brand retail, digital media, manufacturing

[I]  Nothing much in stimulus to make consumers happy, say carmakers

[I]  OMCs bounce back to sweet spot as crude oil prices slip, GRMs improve

[I]  Indian IT majors face employment issues with local hiring in US

[I]  RBI may drop dividend next year, likely to have changed methodology

[I]  India Ratings cuts growth forecast for FY 2019-20 to 6-year low at 6.7%

[I]  Unhappy with surcharge, private market investors bat for tax parity

[I]  India's MF sector among most concentrated asset management industries

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11021;  USDINR DGCX: 72.1125;  DJIA Mini: 25968;  FTSE 100 Fut: 7088;  NIKKEI 225 Fut: 20410;  EUR-USD: 1.1082; Crude Oil (WTI): 55.62;  Gold (Spot): 1542

 

Best Regards, ARBIND

29 Aug 2019