MACRO ECONOMIC NEWS

IDIOCY IS LIFE AND LIFE IS MADLY FUNNY; CRAZY, RIGHT!!!  WISHING A COMICAL DAY AHEAD.

Macro Economic News 25 Feb 2020

 

The Trump administration is considering asking lawmakers for emergency funding to ramp up its response to the fast-spreading coronavirus. The officials also said it was too early to know whether the outbreak would force a return to interest-rate cuts later this year. The Chinese economy’s quick return to normal will hinge largely on how migrant workers choose between two bad options: Stay in their hometowns without jobs, or return to cities where they face a 14-day quarantine. Europe keeps Schengen zone open despite coronavirus while UK lays down red line for Brexit trade talks. Cash handouts, Tax cuts on table in Hong Kong’s recession budget while Hong Kong stocks trade near lowest versus world since 2004. Trumps talks about 'Incredible' trade deal on cards with Modi, whereas Australia is willing to consider bilateral FTA with India.  NITI Aayog Vice-Chairman Rajiv Kumar ‘appealed’ to the North-East States to replace the Planning Department with an ‘SDG (sustainable development goal) Monitoring Unit’. RBI Governor says we would see a very different banking sector in years to come hwile citing cash is still king in India, but digital payments rising sharply.

 

FINANCIAL TIMES

[I]  UK lays down red line for Brexit trade talks

[I]  Iran faces further isolation after jump in coronavirus deaths

[I]  Coronavirus deals fresh blow to Italy’s struggling economy

[I]  Europe keeps Schengen zone open despite coronavirus

[I]  Mars suffers frequent seismic tremors, Nasa mission finds

[I]  Coronavirus outbreak causes supply problem for India’s drugmakers

[I]  UK should diverge on domestic financial services

 

REUTERS

[I]  South Korea to test all church members at centre of coronavirus outbreak

[I]  Climate change could pose 'catastrophic' security threat, experts warn

[I]  Japan's finance minister says closely watching market volatility

[I]  Trump administration weighs emergency funds to combat coronavirus

[I]  Stocks tumble, oil falls, gold spikes as virus fears grip markets

[I]  Coronavirus set to deal heavy blow to Italy's ailing economy

[I]  Coronavirus concerns spur odd market moves

 

BLOOMBERG 

[I]  Cash Handouts, Tax Cuts on Table in Hong Kong’s Recession Budget

[I]  Vietnam Is the ‘Favorite’ Story for Fund Managers Seeking Growth

[I]  After a Stock Meltdown, Some Asia Managers See No Rush to Sell

[I]  Japan’s Plan to Recommend Drug for Coronavirus Sees FujiFilm Shares Soar

[I]  Global Rate Cuts, Japan’s Tax Pains, China Back to Work: Eco Day

[I]  History Repeats as Sales Tax Hike Pushes Japan Toward Recession

[I]  Hong Kong Stocks Trade Near Lowest Versus World Since 2004

[I]  BOE’s Haldane Says Brexit Uncertainty Lifting From U.K. Economy

 

WALL STREET JOURNAL

[I]  Fear of Coronavirus, Rather Than Virus Itself, Hits Economies

[I]  With Migrant Workers in Limbo, Part of China’s Economy Is Stalled

[I]  With Current Tools, Fed Unlikely To Sustainably Hit Inflation Target: Fed Paper

[I]  Austin, Nashville Rank at Top of Hottest Job Markets

[I]  Trump Kicks Off India Visit With Massive Rally

[I]  Fed Officials Say It Is Too Soon to Assess Coronavirus Impact on U.S. Economy

[I]  Economy Week Ahead: Consumer Confidence, GDP, Household Income

 

BUSINESS LINE

[I]  SDG Monitoring Unit better than Planning Depts: NITI Aayog to N-E states

[I]  Ayushman Bharat range of services likely to be expanded in April

[I]  CAG, govt officials hold talks to improve audit quality

[I]  India-US to sign defence, energy pacts

[I]  Striking a balance between sustainable farming and feeding a billion people

[I]  Australia willing to consider bilateral FTA with India

 

ECONOMIC TIMES

[I]  'Incredible' trade deal on cards with Modi: Trump

[I]  Unexpected slowdown may impact EM investments

[I]  The China angle in Trump's issues with India

[I]  Rate cut expectations give pause to soaring dollar

[I]  India's 1st Aadhaar authenticated farmers' database likely in June

[I]  Government launches mobile app to broaden reach of PM-Kisan

[I]  We would see a very different banking sector in years to come: RBI governor

 

BUSINESS STANDARD

[I]  Cash is still king in India, but digital payments rising sharply: RBI

[I]  Need sugar-ethanol price parity to achieve 10% blending, say experts

[I]  Bank of America expects RBI to build $550-billion forex reserves

[I]  'Vivad se Vishwas': MNCs will have to bring all disputed amount to India

[I]  RBI receives Rs 1.23-trn bid for Rs 25,000-cr long-term repo operations

[I]  'Best, most feared military equipment': Trump announces $3-bn arms sales

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11873;  USDINR DGCX: 72.1200;  DJIA Mini: 28150;  FTSE 100 Fut: 7134;  NIKKEI 225 Fut: 22687;  EUR-USD: 1.0865; Crude Oil (WTI): 51.54;  Gold (Spot): 1658

 

Best Regards, ARBIND
25 Feb 2020