MACRO ECONOMIC NEWS

WE LOVE TO BE LOVED; WE ALL ARE LOVED; THIS FRIDAY TOO. WISHING A REFRESHING DAY AHEAD.

Macro Economic News 10 Jan 2020

 

The UK Lawmakers approved legislation allowing Britain to leave the European Union on Jan. 31 with an exit deal, ending more than three years of tumult over the terms of the unprecedented divorce. Whereas Deloitte finds record UK business optimism post-election rebound. China’s chief trade negotiator will travel to Washington early next week to sign a phase-one trade deal with the U.S. FED officials said low interest rates are likely to be a persistent issue for some time to come, which will create challenges for how central banks operate. Banks face the prospect of having to navigate different sets of rules for hundreds of billions of dollars in annual lending to lower-income borrowers if top U.S. regulators can’t settle a fight over competing plans for the industry; however Trump sees sharp rise in support for economic policies. Eurozone nations curb borrowing despite ultra-low rates while German exports drop adds to country’s gloomy prospects. Japan household spending falls 2.0% year-on-year in November whereas Debt ‘crisis’ in poor countries driving public spending cuts. A Record $83 Billion Bond Bill Is Looming Over Indian Companies while Indi Ratings opines India needs 6.3% labour productivity growth to attain 8% hike in GDP. The government is set to slash the time taken for starting a new business from 18 days to five days and RBI approves Aadhaar-based video authentication as alternative to e-KYC. PM, in Pre-Budget meet, says that fundamentals are strong, economy will rebound.

 

FINANCIAL TIMES

[I]  Trump sees sharp rise in support for economic policies

[I]  Eurozone nations curb borrowing despite ultra-low rates

[I]  Nato set for US clash over Middle East troop demand

[I]  Investors still snapping up short-term loans from Fed

[I]  German exports drop adds to country’s gloomy prospects

[I]  France hit by new mass protest over pensions

[I]  Debt ‘crisis’ in poor countries driving public spending cuts 

[I]  Central banks need to refresh their armouries

 

REUTERS

[I]  U.S., Iran ease fear of conflict but threats keep tension high

[I]  Trump says he may wait to finish Phase 2 China trade deal until after November

[I]  Trump floats expanding NATO to add Middle East

[I]  UK business optimism sees record post-election rebound: Deloitte

[I]  Japan household spending falls 2.0% year-on-year in November

[I]  UK lawmakers back EU exit deal, turning page on Brexit crisis

[I]  Fed officials - Trade risks easing may mean bluer sky for 2020 

[I]  Hopes for spike in U.S. farm exports to China dim ahead of trade deal signing 

[I]  Factbox: A lot of soy, a little rice- China's historical U.S. agricultural purchases

 

BLOOMBERG 

[I]  Insurer Facing $2 Billion Financial Hole Sparks Call for Rescue

[I]  Bank of Japan Appears Reluctant to Embrace Green Bonds Despite Climate Fears

[I]  ‘Crucial’ Jobs Data to Reveal Extent of Canada’s Economic Slump

[I]  Suspected Fraud in $200 Billion Korean Market Spurs Regulators

[I]  China’s Small-Cap Rally Is Sending a Bullish Signal on Economy

[I]  A Record $83 Billion Bond Bill Is Looming Over Indian Companies

[I]  Companies Are Rushing to Borrow Cheaply While They Still Can

 

WALL STREET JOURNAL

[I]  China to Send Chief Trade Negotiator to U.S. to Sign Phase-One Deal

[I]  Chinese Inflation at Eight-Year High Poses a Policy Dilemma

[I]  Fed's Williams: Low Interest Rates Likely to Persist

[I]  Fed’s Bullard, Kashkari Favor Holding Interest Rates Steady

[I]  Fed’s Clarida: U.S. Economy Begins 2020 ‘In a Good Place’

[I]  Reversal by Trump Revives U.S. Export-Import Bank

[I]  Newsletter: U.S. Population Growth Slowest in a Century

[I]  Banks Caught in Regulators’ Squabble Over Low-Income Loan Rules

 

BUSINESS LINE

[I]  High spenders can file income tax returns for AY 21 in Sahaj

[I]  Person jointly owning a single house property can file ITR-1, ITR-4

[I]  Crude spike: Govt may need to set aside more for LPG, kerosene subsidy

[I]  Sugar steadies in listless market

 

ECONOMIC TIMES

[I]  You may soon be able to make cash deposits at any ATM

[I]  Safe-haven currencies retreat as US, Iran seen defusing crisis

[I]  Ministry wants update on grain procurement

[I]  India needs 6.3% labour productivity growth to attain 8% hike in GDP: India Ratings

[I]  India adds checks to rice exports to European Union

[I]  Government to slash time taken to start new business to 5 days

[I]  India asset sales to fall short of target by nearly 50%

 

BUSINESS STANDARD

[I]  RBI approves Aadhaar-based video authentication as alternative to e-KYC

[I]  Pre-Budget meet: Fundamentals are strong, economy will rebound, says PM

[I]  India's domestic air passenger traffic hits 11.3% growth in November: IATA

[I]  India lost over $1.3 billion to internet shutdowns last year, says study

 

MARKETS (07:00 am)

[I]  SGX NIFTY Fut: 12262;  USDINR DGCX: 71.3175;  DJIA Mini: 28994;  FTSE 100 Fut: 7568;  NIKKEI 225 Fut: 23825;  EUR-USD: 1.1106; Crude Oil (WTI): 59.41;  Gold (Spot): 1548

 

Best Regards, ARBIND
10 Jan 2020