MACRO ECONOMIC NEWS

MIND TO LET THE PEACE GET THE FULLEST SPACE OF MIND. WISHING A COMPOSED DAY AHEAD.

Macro Economic News 23 Jan 2020

 

Sales of previously owned U.S. homes rose in December, a sign historically low unemployment and low mortgage rates are propelling the U.S. housing market as it enters a new year, however the share of American workers in labour unions fell to a fresh record low last year. After China trade deal, Europe and U.K. next on Trump's to-do list while European politicians said they are prepared to defend themselves and would retaliate against any American tariffs. Trump and EU promise to press on to reach trade deal as trade tensions erupt between London and Washington. Japan December exports fall 6.3% year-on-year and Japan's refinancing debt issuance next year seen lowest in decade while Japanese funds go looking for 6% yields and are buying record Asian bonds. Central Banks Team Up to Study Case for Digital Currencies whilst Bank Indonesia is seen holding as currency rallies. India scores highest among South Asian nations in Women, Business and Law Index whereas India falls to 51st position in EIU’s Democracy Index. Investments in infrastructure was up by 25% in 2019, highest since 2016 while a study finds that India's public spending on old-age pensions a mere 1% of GDP. Coincidently Indian Rupee was one of the worst performers among its Asian peers in the past 1 year.

 

FINANCIAL TIMES

[I]  Trump and EU promise to press on to reach trade deal

[I]  China quarantines city in effort to contain viral outbreak

[I]  Trade tensions erupt between London and Washington

[I]  Companies sign up to environmental disclosure

[I]  Libya oil output set to hit lowest level since Gaddafi’s fall

 

REUTERS

[I]  Mumbai bets on all-night shopping to lift India's economy

[I]  Facing economic crisis, Lebanon's government weighs options

[I]  U.S.'s Pompeo says real reform key to international aid for Lebanon

[I]  U.S. economy to coast, no big boost expected from trade deal: Reuters poll

[I]  Finance wants competitiveness role for UK watchdogs after Brexit

[I]  Japan December exports fall 6.3% year-on-year - MOF

[I]  Japan's refinancing debt issuance next year seen lowest in decade - sources

[I]  After China trade deal, Europe and U.K. next on Trump's to-do list

 

BLOOMBERG 

[I]  Singapore Home-Price Growth Slows as Curbs’ Effects Linger

[I]  Australia’s Unemployment Rate Unexpectedly Falls to 5.1% in December

[I]  City of London Calls for Regulators’ Help Competing After Brexit

[I]  Turkish Banks Turn the Corner as 2020 Earnings Outlook Brightens

[I]  Japan Goes Looking for 6% Yields as Funds Buy Record Asian Bonds

[I]  China Nightmare, Asia Turning Point, Global Sweet Spot: Eco Day

[I]  Central Banks Team Up to Study Case for Digital Currencies

[I]  China’s Trying to Break Addiction to Corporate Bank Loans

[I]  Bank Indonesia Seen on Hold as Currency Rallies: Decision Guide

 

WALL STREET JOURNAL

[I]  U.S. Existing-Home Sales Wrapped Up 2019 on Solid Note

[I]  U.S. Seeks to Reset Clock on China Engagement

[I]  U.S. Union Membership Hits Another Low

[I]  Trade Tensions With Europe Flare as Trump Flexes Economic Muscle

[I]  Europe Girds for Trade Battle

[I]  Trump Ends Davos Trip Talking Trade, WTO and Impeachment

 

BUSINESS LINE

[I]  India scores highest among South Asian nations in Women, Business and Law Index

[I]  Cabinet approves amendments, extension in Acts dealing with GST, VAT

[I]  India falls to 51st position in EIU’s Democracy Index

[I]  Govt gives nod for pact with Brazil for cooperation in geology, mineral resources

 

ECONOMIC TIMES

[I]  Painful journey of auto cos may end in Q3

[I]  Can Mumbai's 24-hr trading bet lift economy?

[I]  Now put exit date in EPFO records yourself

[I]  Economy may rebound, but there's a catch

[I]  Maintaining database: National Business Register on anvil

[I]  India joins WEF reskilling initiative as founding member

 

BUSINESS STANDARD

[I]  15th Finance Commission may hike grants, cut devolution to states

[I]  Business leaders come together, set up body for climate change action

[I]  Rupee one of the worst performers among its Asian peers in the past 1 year

[I]  How India's high-value farm exports are suffering under new restrictions

[I]  Govt eyeing asset monetisation to make up for the disinvestment gap

[I]  State govts slash price of electricity generated by sugar mills by 50%

[I]  Investments in infrastructure up by 25% in 2019, highest since 2016

[I]  India's public spending on old-age pensions a mere 1% of GDP: Study

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 12139;  USDINR DGCX: 71.1350;  DJIA Mini: 29125;  FTSE 100 Fut: 7506;  NIKKEI 225 Fut: 23878;  EUR-USD: 1.1088; Crude Oil (WTI): 55.90;  Gold (Spot): 1558

 

Best Regards, ARBIND
23 Jan 2020