MACRO ECONOMIC NEWS

COMFORT ‘EM WITH A HUG; ENOUGH FOR ENOUGH UNSAID. WISHING A TREASUROUS DAY AHEAD.

Macro Economic News 12 Feb 2020

 

Indian economic growth, as per govt advisor, is poised to bounce back after slipping to a more than six-year low of 4.5% in the July-September quarter as the government has taken measures to prop up investments and consumer demand while FM Sitharaman assures that economy not in trouble; green shoots visible. U.S. household debt exceeds $14 trillion for the first time with a total credit-card balances increase of $46 billion, well above the previous peak seen before the 2008 financial crisis. Labor unrest reached its highest level since 2001, a signal that a solid U.S. economy motivated unions to take a harder line with employers. New coronavirus cases are lowest since January but experts disagree over peak. Bankers in Asia brace for a virus-related deal drought whereas India moves to yield curve control as rate cuts fail to deliver. Govt to lift FPI cap on some sovereign bonds while India Inc's foreign investment jumps 40% to USD 2.10 bn in January. India is out of US’ developing nations list for trade benefits though Trump says he would sign Indian trade pact if it was right.

 

FINANCIAL TIMES

[I]  Barnier rebuffs UK pitch for ‘permanent equivalence’

[I]  Trump’s Middle East peace plan falls flat for Netanyahu

[I]  China sets up national laboratory for advanced policing

[I]  ‘Global Britain’ needs to fix its visa process

[I]  Germany and Europe need a revitalised CDU

 

REUTERS

[I]  Economic growth set to bounce back: adviser

[I]  New coronavirus cases lowest since January but experts disagree over peak

[I]  Trump says he would sign Indian trade pact if it was right

[I]  Bankers in Asia brace for a virus-related deal drought

[I]  Saudi-Qatar talks to end lengthy Gulf dispute falter - sources

[I]  Irish central bank warns against post-election spending splurge

 

BLOOMBERG 

[I]  Prolonged Slide in Financial Health of Indian Firms Comes to End

[I]  RBNZ Signals It’s Done Easing Rates Unless Virus Hits Growth

[I]  Korean Jobless Rises For Fifth Month Amid Manufacturing Woes

[I]  World-Beating Indonesian Bond Rally Falters on Virus Impact

[I]  India Moves to Yield Curve Control as Rate Cuts Fail to Deliver

[I]  Powell Says Fed Will ‘Never’ Declare Victory on Full Employment

[I]  BOE Joins Debate on Financial Rules Amid U.K.-EU Brexit Clash

[I]  Argentina Delays Bond Payment, Says It Won’t Be ‘Held Hostage’

[I]  U.S. Household Debt Exceeds $14 Trillion for the First Time

 

WALL STREET JOURNAL

[I]  Fed Watching Risks of Broader Coronavirus Disruptions

[I]  Companies Shifted Income to Maximize U.S. Tax-Rate Cut

[I]  Work Stoppages Reach Highest Level in Nearly Two Decades

[I]  Credit-Card Debt in U.S. Rises to Record $930 Billion

[I]  Trump Deficit Forecast Is Built on Shaky Assumptions, Experts Say

[I]  Fed Officials Weigh Risks of Covid-19

 

BUSINESS LINE

[I]  SC stays extension of deadline for filing annual GST returns

[I]  Economy back on the rails, government pumping fuel into all engines: Finance Minsiter

[I]  India seeks WTO members’ views on draft quality norms for toys

[I]  Electric two and three wheelers to zoom ahead in the next 4 years: Crisil

[I]  ‘72 lakh hectares of farmland hit by floods and drought’

[I]  Gem, jewellery exports dip 9 per cent to $2.96 billion in January on lower demand

 

ECONOMIC TIMES

[I]  What Donald Trump could be packing for his 1st trip to India

[I]  Govt to lift FPI cap on some sovereign bonds

[I]  India Inc's foreign investment jumps 40% to USD 2.10 bn in January

[I]  India out of US’ developing nations list for trade benefits

[I]  Economy not in trouble; green shoots visible: FM Sitharaman

 

BUSINESS STANDARD

[I]  'Sick' pharma PSU offers to step in to reduce China drug dependence

[I]  Commercial vehicles, two-wheelers likely to see a smooth drive from H2

[I]  Realty firm under insolvency can continue to complete other projects: NCLAT

[I]  Lower duties for agri goods on cards as US confirms Donald Trump visit

[I]  Medical devices to be treated as drugs from the next financial year

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 12160;  USDINR DGCX: 71.4025;  DJIA Mini: 29256;  FTSE 100 Fut: 7499;  NIKKEI 225 Fut: 23813;  EUR-USD: 1.0916; Crude Oil (WTI): 50.60;  Gold (Spot): 1568

 

Best Regards, ARBIND
12 Feb 2020