MACRO ECONOMIC NEWS

FOND FRIDAY IS FINDING FREAKING FANATIC FANCIES. WISHING A FANTASTIC DAY AHEAD.

Macro Economic News 28 Feb 2020

 

World economy risks worst year since 2009 while market witnessed the fastest stock market correction on record fearing world stocks heading for worst week since 2008 as virus fears grip markets. Indonesian stocks tumble as virus concerns mount while Philippine stock slump sends market toward worst week since 2011. Global stock losses hit $6 trillion as virus fear spreads while Sebi wants MFs to be agile in stress events, warns industry on mis-selling. Spreading of the epidemic led to school closures, public-event cancellations, countries limiting entry of travellers and wide business disruptions but economists say an activity slowdown would be followed by a sharp rebound while U.S. Business Investment rise is a sign businesses were more willing to spend in early 2020. Auto parts shortages on everything from electronics to brake pads could soon hit North American vehicle factories due to the coronavirus outbreak. U.K. Consumer confidence rises with appetite for big purchases while Britain unveiled a negotiating mandate for talks with the European Union that puts it on a collision course with Brussels, saying it was ready to walk away if "good progress" was not made. As per poll, India’s GDP is seen growing at 4.7 per cent in December quarter while Australia appears keen to partner India in energy and resources sector. Govt asks banks to clear 1.18 lakh pending PMEGP loan applications by Mar 15. Interestingly Individuals lead the way in philanthropy, even as firms' contribution falls.

 

FINANCIAL TIMES

[I]  Closing sell-off sends US stocks into correction territory

[I]  Japan shuts all schools to combat coronavirus

[I]  Johnson to threaten to walk away from Brexit trade talks

[I]  Carney and Lagarde press business on climate change

[I]  Lagarde says virus yet to cause ‘long-lasting shock’

[I]  Expat bankers head for exits to flee coronavirus

 

REUTERS

[I]  World stocks set for worst week since 2008 as virus fears grip markets

[I]  Japan Abe says ready to protect economy from coronavirus impact

[I]  Japan's Jan factory output beats forecasts but slowdown expected 

[I]  Britain, on trade collision course with EU, says it could walk away

[I]  New Zealand limits entry of travellers from Iran on coronavirus fears

[I]  Investors ditch market risk as stocks fall into correction

[I]  U.S. economy grows steadily in fourth quarter, but coronavirus looms large

 

BLOOMBERG 

[I]  World Economy Risks Worst Year Since 2009 as Virus Hopes Fade

[I]  We Just Witnessed The Fastest Stock Market Correction on Record

[I]  India’s Fragile Economic Rebound Faces New Risk From Coronavirus

[I]  Indonesian Stocks Tumble as Virus Concerns Mount

[I]  Philippine Stock Slump Sends Market Toward Worst Week Since 2011

[I]  Global Stock Losses Hit $6 Trillion As Virus Fear Spreads

[I]  U.K. Consumer Confidence Rises With Appetite for Big Purchases

[I]  Shenzhen Beats Hong Kong For Investors Buying Prime Property

[I]  Extended China Factory Shutdowns to Hurt Indian Production Lines

 

WALL STREET JOURNAL

[I]  U.S. Coronavirus Outbreak Would Pose Risk to Record Expansion

[I]  U.S. Business Investment Rose Ahead of Coronavirus

[I]  Fed’s Evans Says Too Soon to Say if Coronavirus Shock Needs Rate Cut

[I]  Coronavirus Impact Seen Prolonging U.S. Freight Slump

[I]  Auto Manufacturers Flying in Parts as Virus Threatens Supply Chain

[I]  Fed’s Wait-and-See Posture Tested by Virus

 

BUSINESS LINE

[I]  Commerce Ministry assessing impact on pharma ingredient supplies from China

[I]  India among top suppliers of pharma drugs used in trafficking: UN report

[I]  India’s GDP seen growing at 4.7 per cent in December quarter: Poll

[I]  A 360-degree analysis of India’s agricultural economy

[I]  Australia keen to partner India in energy and resources sector

 

ECONOMIC TIMES

[I]  Your PF may get you low returns this year

[I]  How to take US-India energy cooperation to the next level

[I]  Q3 GDP: Third time lucky or more bad news?

[I]  Live streaming emerging as the next big thing

[I]  Virus pose threat to India's fragile economy

[I]  Shared economy in India to be USD 2 billion industry by 2020-end: Maple Capital

[I]  BOT no more: Is the Build-Operate-Transfer model of road developing dead?

[I]  Govt asks banks to clear 1.18 lakh pending PMEGP loan applications by Mar 15

 

BUSINESS STANDARD

[I]  Coronavirus outbreak: Govt to fast-track manufacturing of tech goods

[I]  Individuals lead the way in philanthropy, even as firms' contribution falls

[I]  Online private labels may grow 1.6 times faster than e-commerce platforms

[I]  Sebi wants MFs to be agile in stress events, warns industry on mis-selling

[I]  Onion jumps 30% to hit a two-week high as export curbs are lifted

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11367;  USDINR DGCX: 72.1700;  DJIA Mini: 25317;  FTSE 100 Fut: 6571;  NIKKEI 225 Fut: 21185;  EUR-USD: 1.0991; Crude Oil (WTI): 45.75;  Gold (Spot): 1644

 

Best Regards, ARBIND
28 Feb 2020