MACRO ECONOMIC NEWS

GOD KISSES YOU WITH HIS MOST WONDERFUL LOVE. WISHING AN AFFECTIONATE DAY AHEAD.

Macro Economic News 13 Feb 2020

 

India’s annual retail inflation accelerated to its highest level in nearly six years, while industrial output unexpectedly contracted, showing that Asia’s third-largest economy remains troubled. Indian firms issue record dollar bonds in first six weeks of 2020 while govt mulls direct method to make registering a company online to be easier. Argentina economy chief warns of ‘deep debt restructuring’ whereas New Zealand won’t rush to raise rates being comfortable with more inflation. Powell sees low rates, crisis-era tools, as facts of life for fed. EU adds Cayman Islands to tax haven blacklist while Eurozone outlook dented by industrial output drop. Coronavirus sends ripples through global economy. It will likely dampen U.S. economic growth in the first quarter, according to a survey of economists. The U.S. budget gap totalled $389 billion from October through January, compared with $310 billion in the same period a year earlier, the U.S. Treasury Department said.  The U.S. government will forgive $207.4 billion in student debt for Americans who take out loans over the next decade, the Congressional Budget Office said, with the biggest benefits going to borrowers who attend graduate or professional school.

 

FINANCIAL TIMES

[I]  Patents reveal extent of China’s digital currency plans

[I]  Eurozone outlook dented by industrial output drop

[I]  Coronavirus sends ripples through global economy

[I]  Switzerland halts 5G rollout over health concerns

[I]  EU adds Cayman Islands to tax haven blacklist

[I]  Eastern Europe gives more to the west than it gets back

 

REUTERS

[I]  India's January retail inflation rises to 7.59%

[I]  December industrial output contracts 0.3%

[I]  Investors from five countries eye Mexico's nascent lithium market

[I]  UK to make social media platforms responsible for harmful content

[I]  Trump's Fed nominees make opening pitches to Senate panel 

[I]  Analysts cut China's gas demand estimates as virus outbreak weighs 

[I]  Despite $1 trillion deficits, Trump tax cuts will still 'pay for themselves' - Mnuchin

 

BLOOMBERG 

[I]  China Stimulus Shot, Fed Crisis Tools, German Recession: Eco Day

[I]  New Zealand Won’t Rush to Raise Rates, Comfortable With More Inflation

[I]  IMF Sees China Rebounding From Virus, Though Uncertainty Is High

[I]  Argentina Economy Chief Warns of ‘Deep Debt Restructuring’

[I]  U.S. Weighs Higher Tariff Ceilings in Bid for More Sway Over WTO

[I]  Powell Sees Low Rates, Crisis-Era Tools as Facts of Life for Fed

[I]  IMF to Offer Lebanon Advice on Handling Financial Crisis

 

WALL STREET JOURNAL

[I]  Central Banks Adopt Cautious Outlook on Coronavirus

[I]  WSJ Survey: Coronavirus Likely to Hit First-Quarter U.S. Growth

[I]  U.S. Budget Deficit Grew 25% in First Four Months of Fiscal 2020

[I]  Trump and His Budget Aren’t on the Same Page

[I]  Watchdog Warns 2020 Census Isn’t Ready

[I]  U.S. Student Debt Forgiveness to Total $207 Billion in Next Decade

[I]  Newsletter: Fewer Job Openings, More Labor Unrest

 

BUSINESS LINE

[I]  Officials move to recover ₹46,000 cr interest on delayed GST payment

[I]  Retail inflation surges to 7.59% in January; industrial growth contracts 0.3% in December

[I]  Non-subsidised LPG cylinder price hiked by ₹146.38 across metros

[I]  Coronavirus spread to shrink India auto production by 8.3% 

 

ECONOMIC TIMES

[I]  Nod for Direct Tax amnesty scheme to cover DRTs

[I]  Indian cos emerge from NBFCs' shadows

[I]  Sleeping giant awakens? Downside risks for euro grow

[I]  Indian firms issue record dollar bonds in first six weeks of 2020

[I]  India clocks record foodgrain production in 2018-19

[I]  India-US trade deal talks on, poll may put pact down to wire

[I]  Double blow to economy: Factory output shrinks, retail inflation surges to near 6-year high

 

BUSINESS STANDARD

[I]  India's IT giants see product-led growth strategy as next big opportunity

[I]  Govt makes tax dispute resolution scheme attractive, expands scope

[I]  Registering a company online to be easier as govt mulls direct method

[I]  PSU general insurers continue to lose market share, merger plan stuck

[I]  Simplifying regime to make tax harassment 'a thing of the past': Modi

[I]  Dec quarter shows much-needed improvement in asset quality for PSU banks

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 12218;  USDINR DGCX: 71.4450;  DJIA Mini: 29551;  FTSE 100 Fut: 7473;  NIKKEI 225 Fut: 23876;  EUR-USD: 1.0871; Crude Oil (WTI): 51.37;  Gold (Spot): 1574

 

Best Regards, ARBIND
13 Feb 2020