AN ANGLE IS COMING FOR ANGELIC, AESTHETICAL, AGELESS, AGILE AND AWESOME CELEBRATION. WISHING AN OVERJOYED WEEKEND AHEAD.

Macro Economic News 05 Oct 2019

                                                                                                                                                           

The Reserve Bank of India on Friday cut interest rates for a fifth straight meeting, stepping up efforts to kickstart economic growth languishing at six-year lows. RBI sharply cuts FY20 GDP growth forecast to 6.1% amid economic slowdown. Business climate worst since 2008 financial crisis, says RBI survey. Slowdown blues: Low demand in economy shrinks loan book of India Inc. RBI to provide liquidity support to banks for smooth NEFT transactions. U.S. unemployment dropped to a half-century low and job growth continued at a modest pace, signs the economy is holding up despite a broader global slowdown. But economists aren’t convinced that the U.S. has achieved full employment. U.S. trade gap with china narrows as exports hit five-month high. More pain is seen for Europe Inc as earnings drought seen spilling over into 2020. Canada’s trade deficit shrinks on exports of crude, aircraft.

 

FINANCIAL TIMES

[I]  PM to seek Brexit extension if no deal by October 19

[I]  China: the ultimate test of authoritarian rule

[I]  Former central bankers attack ECB’s monetary policy

[I]  US unemployment rate hits 50-year low

[I]  Watchdog looks at ban on insurance loyalty penalty

[I]  Negative rates tarnish bankers’ halos

[I]  House prices dive in London’s Stoke Newington

 

REUTERS

[I]  RBI cuts rates by 25 bps

[I]  Slight retreat in prices adds to festive lure in India

[I]  India's services sector contracts in September on weak demand: PMI

[I]  U.S. eliminating tariff exemption for imports of new solar panel technology

[I]  More pain for Europe Inc as earnings drought seen spilling over into 2020

[I]  U.S. unemployment rate hits 3.5%; job growth moderate

 

BLOOMBERG 

[I]  Fed to Keep Pumping Liquidity Into Repo Market Through October

[I]  Is the U.S. Slowing or Stalling? That’s the Question After the Jobs Report

[I]  Fed Officials Signal Openness to More Easing After Jobs Report

[I]  U.S. Imports From China Slump; No. 2 Supplier Mexico Narrows Gap

[I]  OPEC Is Prepared to Make Deeper Cuts If Needed, Nigeria Says

[I]  U.S. Payrolls and Wages Miss Estimates in New Sign of Downshift

[I]  Canada’s Trade Deficit Shrinks on Exports of Crude, Aircraft

[I]  U.S. Trade Gap With China Narrows as Exports Hit Five-Month High

 

WALL STREET JOURNAL

[I]  U.S. Unemployment Hit 50-Year Low in September

[I]  Economists Wonder How Low U.S. Unemployment Can Go

[I]  Fed Chairman Says U.S. Economy Is ‘In a Good Place’ Despite Some Risks

[I]  Treasury Inspector General Reviewing Handling of Requests for Trump Tax Records

[I]  U.S. Trade Gap Widened in August

[I]  U.S. Government Bond Yields Decline After Jobs Report

[I]  India Slashes Interest Rate, Growth Forecast as Slump Stretches On

[I]  Jobs Report Keeps October Rate Cut Discussion on The Table

 

BUSINESS LINE

[I]  RBI revises GDP growth forecast to 6.1%

[I]  RBI pegs GDP growth to recover to 7 per cent in 2020-21

[I]  Eleven of 12 reservoirs 80% full: CWC

[I]  Tea export earnings up 14%

[I]  India’s services sector activity contracts in September amid ...

[I]  E-assessment scheme for taxpayers comes with riders

 

ECONOMIC TIMES

[I]  The debt threat lurking behind India's zombie homes

[I]  Govt proposes up to 7% increase in MSP for Rabi crops

[I]  In Delhi, onions sell at double wholesale rate

[I]  Forex reserves scale record high of $434.6 billion

[I]  Cabinet approves new strategic disinvestment process

 

BUSINESS STANDARD

[I]  RBI sharply cuts FY20 GDP growth forecast to 6.1% amid economic slowdown

[I]  Business climate worst since 2008 financial crisis, says RBI survey

[I]  Slowdown blues: Low demand in economy shrinks loan book of India Inc

[I]  Lower domestic growth worrisome for markets, RBI rate cut fails to cheer

[I]  Rise in capex unlikely despite corporate tax rate cut, warns Credit Suisse

[I]  RBI to provide liquidity support to banks for smooth NEFT transactions

 

Best Regards, ARBIND

05 Oct 2019

FUN, FROLIC, FRIDAY AND A MAD ANGLE... WISHING A THRILLED DAY AHEAD.

Macro Economic News 04 Oct 2019

                                                                                                                                                           

India is among the world's most protectionist countries but the United States is trying to negotiate a limited trade deal with the South Asian nation to resolve their differences, U.S. Secretary of Commerce Wilbur Ross said on Thursday. U.S. services-sector activity last month expanded at its slowest pace in three years, prompting concerns a manufacturing downturn is spreading across the economy. US shopping mall vacancies hit 8-year high. Nearly every major economy has been affected by the slowdown in global manufacturing activity. August economic activity worse than 2008 financial crisis, says Nomura. RBI relaxes ban for those looking to buy stake of foreign firms in India.

 

FINANCIAL TIMES

[I]  Global economy fears over trade tensions and dismal data

[I]  EU doubts grow over Boris Johnson’s Brexit offer

[I]  Turkish inflation falls to lowest level in almost three years

[I]  US shopping mall vacancies hit 8-year high

[I]  Impact of US tariffs uneven across Europe

[I]  EU rules in favour of Polish borrowers over Swiss franc-linked loans

 

REUTERS

[I]  India protectionist, but U.S. negotiating limited trade deal: Ross

[I]  Fed policymakers 'open' to rate cut as risks to outlook rise

[I]  Japan finance minister: See no immediate need for stimulus after tax hike

[I]  Australian housing a key source of potential 'systemic risk': RBA

[I]  U.S. widens trade war with tariffs on European planes, cheese, whisky to punish subsidies

[I]  EU and Ireland sceptical of a Brexit breakthrough after PM Johnson's offer

[I]  U.S. recession risks up as services growth hits three-year low

[I]  Waning demand prompts Indian, Thai exporters to lower prices

[I]  U.S. skies still bright for Main Street banks even as Wall Street frets

 

BLOOMBERG 

[I]  India Set to Cut Rates. Question Is by How Much?: Decision Guide

[I]  Fighting Against Bank of Japan May Not Be Crazy After All

[I]  Gold Extends Push Above $1,500 in Final Hours Before Jobs Data

[I]  U.S. Services Slump, Fed Bets, Hong Kong and Shenzhen: Eco Day

[I]  BOJ’s Wakatabe Wants to Get Out of Negative Rates as Soon as Can

[I]  Central Banker Says Colombia Isn’t Considering FX Intervention

 

WALL STREET JOURNAL

[I]  Services Stumble Threatens Sharper Slowdown

[I]  Clarida Says Fed Will Do What It Takes to Sustain Growth

[I]  Here Is How Interconnected Manufacturing Is Across the Globe

[I]  IMF’s New Chief Vows to ‘Fix the Roof’ Before Storm Hits

[I]  Retailers Give Sunny Holiday Forecast but Sound a Warning

[I]  EU Pledges Restraint as U.S. Moves to Add Tariffs

[I]  Fed’s Mester Warns Low Rates Can Fuel Financial Imbalances

 

BUSINESS LINE

[I]  Auto sector slowdown, widespread rainfall in Aug impacted GST mop-up, says Centre

[I]  Budget 2020-21: Finance Ministry starts pre-budget exercises

[I]  Tax cuts to impact revenue collection of States, says RBI report

[I]  More reforms in offing, says NITI Aayog CEO

[I]  Centre looking at mandatory drinking water standards

 

ECONOMIC TIMES

[I]  Bond investors seek clarity on future rate cuts & fiscal math

[I]  Maharashtra onion traders threaten to boycott trade if restrictions not eased

[I]  No major hurdle to trade deal: India, US

[I]  Singapore Deputy PM warns of greater economic uncertainty due to US-China trade war

[I]  Why another rate cut may not help India

[I]  Labour ministry to rejig draft social security code

[I]  Favourable conditions exist to achieve $5 trillion economy target: Official

 

BUSINESS STANDARD

[I]  India has opportunity to gain from US-China trade war: Wilbur Ross at WEF

[I]  Colour but no credit: Loan 'mela' kicks off, but without spot approvals

[I]  Just 10% of top Indian CEOs confident about reliability of AI, says PwC

[I]  August economic activity worse than 2008 financial crisis, says Nomura

[I]  RBI relaxes ban for those looking to buy stake of foreign firms in India

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11384;  USDINR DGCX: 71.1750;  DJIA Mini: 26140;  FTSE 100 Fut: 7075;  NIKKEI 225 Fut: 21330;  EUR-USD: 1.0977; Crude Oil (WTI): 52.65;  Gold (Spot): 1510

 

Best Regards, ARBIND
04 Oct 2019

SMILE, HAPPINESS LOOKS ELEGANT ON YOU. WISHING A DAZZLING DAY AHEAD.

Macro Economic News 03 Oct 2019

                                                                                                                                                           

 

India shows remarkable resilience amid global slowdown: WEF President. India, the world’s biggest seller of the Asian diet staple, has banned exports after extended Monsoon downpours delayed harvests and supplies shrivelled. India shadow banking crisis may return to haunt stock market. The global manufacturing slowdown worsened in September, and trade flows are set to grow this year at the weakest pace since the financial crisis, as tariffs rise and economic growth cools. The U.S. economy, in the past, was often strong enough to lead the rest of the world into growth or a slowdown. This year, however, forces weighing on external economies have begun to wash back on the U.S.  For the first time in a long time, U.S. factories look like they are doing even worse than Chinese ones. The United States said it would enact 10% tariffs on European-made Airbus planes and 25% duties on French wine, Scotch and Irish whiskies and cheese from across the continent as punishment for illegal EU aircraft subsidies. Chinese venture capital investment in US hits four-year low. Mexico plans infrastructure blitz worth billions to shore up economy.

 

FINANCIAL TIMES

[I]  US hits EU goods with new tariffs after WTO ruling

[I]  US hits EU goods with new tariffs after WTO ruling

[I]  German economists urge Berlin to ditch balanced budget rule

[I]  Poland defies Brussels by vowing to stick to coal

[I]  Johnson sends in contentious plan to break Brexit deadlock

[I]  Ecuador ends fuel subsidies as part of $4.2bn IMF plan

[I]  France seeks crackdown on short sellers and activist investors

[I]  Chinese venture capital investment in US hits four-year low

 

REUTERS

[I]  Why Asia has eye-watering onion prices

[I]  India's PM Modi exhorts nation to end usage of single-use plastic by 2022

[I]  U.S. widens trade war with tariffs on Airbus planes, French cheese, Scotch whisky

[I]  PM Johnson makes final Brexit offer, draws guarded welcome from EU

[I]  RBI set to cut rates again as fiscal measures fail to cheer

[I]  U.S. private payrolls growth cools in September - ADP

[I]  Mexico plans infrastructure blitz worth billions to shore up economy

 

BLOOMBERG 

[I]  India Shadow Banking Crisis May Return to Haunt Stock Market

[I]  Slumping Data May Force Powell to Move to Third Cut

[I]  Asian Bond Buyers Are Getting Hungrier, If Not More Adventurous

[I]  Zimbabwe to Introduce First Zimbabwe Dollar Notes in November

[I]  Why It’s So Hard for Startups to Create Wealth in Europe

[I]  India’s Banking Woes Add to RBI Worries as It Moves to Cut Rates

[I]  Canada’s Most Expensive Housing Market Is Stabilizing After a Slump

[I]  Repo Watchers Worry More Trouble Brewing in Fourth Quarter

[I]  Canadian Bankers Want to Include Oil in Push for Sustainable Finance

 

WALL STREET JOURNAL

[I]  For a Change, It’s the World That Is Pulling Down the U.S. Economy

[I]  U.S. to Impose Tariffs on EU Goods After WTO’s Airbus Ruling

[I]  U.S. Private Sector Added 135,000 Jobs In September

[I]  U.S.-China Factory Breakup Is Hard to Do

[I]  Slowing Trade Hits Global Manufacturing

[I]  Manufacturing Struggles Matter More Than You Think

 

BUSINESS LINE

[I]  Steel industry fret as Govt inches close to signing RCEP

[I]  LPG and ATF price hiked

[I]  Festival bonanza: It’s raining deals as companies go all out to woo buyers

[I]  India shows remarkable resilience amid global slowdown: WEF President

[I]  India banned onion exports; now, Asia has eye-watering prices

[I]  No MAT credit for firms opting for lower tax: FinMin

 

ECONOMIC TIMES

[I]  India Inc had its cheer. Now it's time for a jeer on corporate tax cut

[I]  EV makers are in a rush to fix their battery problem

[I]  Falling car sales may finally take a right turn

[I]  Oil market ignoring geopolitical risks; trade talks next big trigger

[I]  Ecuador to quit Opec in 2020 in search of bigger export revenue

[I]  Dollar back near two-year high; Aussie hits decade low

[I]  BOJ to stick to playbook in fighting excessive yield falls

[I]  Corporate tax cuts alone will not stimulate private capex: Ind-Ra

 

BUSINESS STANDARD

[I]  Stock prices of nearly half of the BSE500 firms back to pre-tax cut levels

[I]  Govt policy on e-commerce industry may miss year-end deadline: Sources

[I]  Infra companies consider monetising litigation claims for offshore assets

[I]  Homebuyers may have to shell out more for parking space, other services

[I]  Indians prefer video, vernacular and mobile-only internet content

 

MARKETS (07:00 am)

[I]  SGX NIFTY Fut: 11338;  USDINR DGCX: 71.3575;  DJIA Mini: 26038;  FTSE 100 Fut: 7069;  NIKKEI 225 Fut: 21340;  EUR-USD: 1.0960; Crude Oil (WTI): 52.80;  Gold (Spot): 1501

 

Best Regards, ARBIND
03 Oct 2019