MACRO ECONOMIC NEWS

PEACE IS HAVING ACCORD WITH THE UNIVERSE. WISHING A HARMONIOUS AHEAD.

Macro Economic News 28 Jan 2020

 

As part of their contingency planning for the next recession, the Fed is looking at a stimulus scheme the U.S. last used during and after World War II. U.S., Canada warn against China travel as virus spreads and markets slide whilst Mexican economy likely shrank 0.1% in fourth quarter as per Reuters poll. Australian officials warned communities to strengthen bushfire defences as soaring temperatures and strong winds were set to return, threatening to reignite some blazes and start fresh ones. UK and EU set for clash on fish and financial services whereas EU tells UK it will 'never, never, never' compromise on single market. India wants Qatar to delink the price of its imported gas from that of oil under long-term deals, to make supplies cheaper for price-sensitive customers after a sharp fall in spot prices of the cleaner fuel. Nobel laureate and economist, Abhijit V Banerjee, called for re-introduction of a wealth tax in India considering the rising “inequality”.“Given the amount of inequality now, a wealth tax is completely sensible. Unsold luxury homes in India grow 10%, stock still a fraction of affordable. Housing markets across the world are losing steam, holding back prospects for the global economy that last year grew at its slowest rate since the financial crisis.

 

FINANCIAL TIMES

[I]  UK and EU set for clash on fish and financial services

[I]  Erdogan’s assertive foreign policy shakes international order

[I]  Investors look to history for clues on impact of coronavirus

[I]  China braced for economic hit from coronavirus

[I]  US trade pact insufficient to revive Mexico’s economy

[I]  London brings in rules for ‘internet of things’

[I]  US retail upheaval laid bare as bankruptcies grow

 

REUTERS

[I]  U.S., Canada warn against China travel as virus spreads, markets slide

[I]  Australia readies for more bushfires with temperatures set to soar

[I]  Lebanese spend big to prise savings from the bank

[I]  India wants to delink Qatar gas supply deals from crude; Qatar says no

[I]  EU tells UK it will 'never, never, never' compromise on single market

[I]  Mexican economy likely shrank 0.1% in fourth quarter - Reuters poll

 

BLOOMBERG 

[I]  JPMorgan Keeps Bonuses Flat for Bankers, Traders

[I]  ECB’s Mersch Warns Loose Policy Raises Risk of Market Drop

[I]  Riots and Slow Growth Can’t Stop Latin America’s Bond Boom

[I]  U.S. New-Home Sales Fall to Five-Month Low, Missing Forecast

 

WALL STREET JOURNAL

[I]  New Cloud Over Global Growth: Synchronized Housing Slowdown

[I]  Fed Officials Weigh New Recession-Fighting Tool: Capping Treasury Yields

[I]  Supreme Court Allows Trump to Implement Income-Based Restrictions on Immigration

[I]  Deadly Infection Keeps Chinese Consumers From Spending

[I]  Economy Week Ahead: Durable Goods, Inflation, Fed Policy

[I]  Tech Giants to Governments: Please Regulate Us

[I]  Banks Face Eased Volcker Restrictions on Venture-Capital Funds

 

BUSINESS LINE

[I]  Abhijit Banerjee bats for wealth tax to combat inequality

[I]  Stricter reporting regime coming soon for auditors

[I]  Net direct tax collection posts a shortfall of 5.4%

[I]  Centre wants 10,000 FPOs set up by 2024; where do we stand now?

 

ECONOMIC TIMES

[I]  Government may get Rs 45,000 crore cushion on corporate tax cut

[I]  To boost desi companies, curbs likely on tyre, furniture imports

[I]  India likely to raise import duties on more than 50 items in Budget

[I]  Country could be passing through recession: Abhijit Banerjee

[I]  Government may consider unveiling national logistics policy in Budget

[I]  Budget may include stimulants to boost consumer demand: Report

 

BUSINESS STANDARD

[I]  PSU insurance firms seek Rs 12,000-cr infusion as merger put on fast track

[I]  Budget 2020: Govt may consider tax sops, easier norms to boost investments

[I]  Despite kharif loss, Centre pegs 7% rise in 2019-20 onion output

[I]  Unsold luxury homes grow 10%, stock still a fraction of affordable: Anarock

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 12086;  USDINR DGCX: 71.6650;  DJIA Mini: 28566;  FTSE 100 Fut: 7347;  NIKKEI 225 Fut: 23124;  EUR-USD: 1.1020; Crude Oil (WTI): 52.89;  Gold (Spot): 1581

 

Best Regards, ARBIND
28 Jan 2020