MACRO ECONOMIC NEWS

BLESSED ARE WE, BEING ALIVE, TO REJOICE THIS SPECIAL DAY - SATURDAY. WISHING A CELEBRATING WEEKEND AHEAD.

Macro Economic News 15 Feb 2020

 

IMF chief hopes for global policy response to mitigate coronavirus impact while recommending a coordinated economic action. The slide of so many bond yields below zero may cost pension funds and other institutional investors a trillion dollars this year. Europe’s trade surplus with the U.S. hit a record high in 2019, a rise that risks drawing the ire of President Trump, who recently renewed threats to place tariffs on EU goods if the bloc didn’t agree to a new deal. Germany's president took an indirect swipe at Trump in accusing Washington, China and Russia of stoking global mistrust and insecurity with a "great powers" competition" that could threaten a new nuclear arms race. American shoppers increased their spending while U.S. industrial output fell in January, driven down by unseasonably warm temperatures and a halt in production at Boeing. Indian WPI inflation accelerates to 10-mth high of 3.1% while exports contract for sixth straight month shooting trade deficit up, although services export rises by 11.6% to $20 bn compared with imports rise of 10.3% in Dec. India is to woo businesses to Kashmir in investment meet while FM assures the industry of being open to tweaking Budget to address concerns. IMF highlights India’s urgent need of more ambitious structural and financial sector reform measures and a medium-term fiscal consolidation strategy due to the rising debt levels while ensuring a more accommodative fiscal stance in the Budget.

 

FINANCIAL TIMES

[I]  Trump to raise tariffs on European aircraft imports

[I]  Inside the IMF’s outrageous, improbably successful Jamaican programme

[I]  US industrial production falls on warm weather, Boeing woes

[I]  Eurozone economy suffers slowest growth in 7 years

[I]  German economy has flatlined and coronavirus could deal further blow

[I]  US retail sales edge upwards in January

 

REUTERS

[I]  Supreme Court orders telcos to clear dues by March 17

[I]  Beijing quarantines returning residents as China struggles to pick up economy

[I]  Trump to woo Indian executives during New Delhi visit

[I]  India to woo businesses to Kashmir in investment meet

[I]  Vietnam looks to India to ease virus hit to farm exports

[I]  Indian pulse imports could drop 60% - trade

[I]  IMF chief hopes for global policy response to mitigate coronavirus impact

 

BLOOMBERG 

[I]  Charting the Global Economy: Angst Over Coronavirus Mounts

[I]  A Top 1% Fund Manager Describes His Approach to Picking Stocks

[I]  OPEC+ Close to Dropping Early Meeting Idea as Russia Balks

[I]  Hedge Funds Join Forces to Prepare for Argentina Debt Talks

[I]  IMF Chief Says Virus May Warrant Coordinated Economic Action

[I]  Consumers, Factories Send U.S. Economy Off to Tepid 2020 Start

[I]  Funds Face Trillion-Dollar Hit on Negative-Yielding Debt Pile

 

WALL STREET JOURNAL

[I]  U.S. Consumer Spending Picks Up, While Manufacturing Declines

[I]  U.S. Industrial Production Sputtered in January

[I]  Consumer Sentiment Climbs

[I]  That Valentine’s Day Dinner Will Cost More This Year

[I]  Trump’s Tariff Threats Are Tested by Europe’s Record Trade Surplus

[I]  Newsletter: Tame Inflation, Surging Coronavirus, German Stagnation

 

BUSINESS LINE

[I]  India needs more ambitious structural, financial sector reform measures: IMF

[I]  Textile industry told to diversify to polyester to boost exports

[I]  Goods exports dip 1.6% to $25.97 b in Jan; trade deficit at $15.17 billion

[I]  Trends in MSME sector growth in Tamil Nadu

[I]  Goods exports dip 1.6% to $25.97 b in Jan; trade deficit at $15.17 billion

[I]  India, US yet to resolve issues for trade deal

 

ECONOMIC TIMES

[I]  Save more, work long, expect less: Welcome to upside-down world

[I]  FPIs draw plan B to avoid proposed tax rule

[I]  Forex reserve surges to record $473 billion

[I]  Exports contract for 6th straight month, drop 1.66 per cent in January; trade deficit widens

[I]  India, Portugal ink seven pacts after Modi-Sousa talks

[I]  India's 2020-21 pulses import may fall by 50% if government doesn't extend import quotas, says IPGA

[I]  Maharashtra loses top slot as attractive investment destination to Andhra in FY’19: RBI study

[I]  January wholesale inflation quickens on fuel, manufactured products

 

BUSINESS STANDARD

[I]  Merger of 10 public sector banks: Cloud hangs over April 1 deadline

[I]  Common portal for health insurance claim settlements on the cards

[I]  WPI inflation accelerates to 10-mth high of 3.1% on costlier onion, potato

[I]  Export of services rises 11.6% to $20 bn in Dec; imports up 10.3%

[I]  Exports contract for sixth straight month, trade deficit shoots up

[I]  Open to tweaking Budget to address concerns of the industry, says FM

 

Best Regards, ARBIND
15 Feb 2020