MACRO ECONOMIC NEWS

LET US ALL BE A CARRIER OF CONTAGIOUS SMILE. WISHING A JOYFUL DAY AHEAD.

Macro Economic News 06 Feb 2020

 

The trade gap narrowed as Americans imported less from overseas and exports fell amid trade tariffs and slower global growth. The U.S. deficit in goods with China fell to its lowest level since 2014. Most of the growth was at small- and medium-size businesses and the service-providing sector drove most of the overall increase. The Treasury said it plans to issue new 20-year bonds each quarter, expanding its suite of products to fund projected growing federal budget deficits. Lawmakers Push for Changes in Credit-Ratings Industry. Bipartisan group of senators has asked the SEC why the agency failed to revamp the credit-ratings industry’s ‘issuer pay’ model, in which entities that sell bonds also pay for ratings. Spain’s central bank urges Madrid to stick with labour reform while Moscow to lift spending and stimulate growth and UK hopes for early free trade deal with Australia after leaving EU. India aims to double defence exports in five years amid resource crunch.

 

FINANCIAL TIMES

[I]  Coronavirus shakes centre of global tech supply chain

[I]  Chinese county ‘locked down’ over new coronavirus fears

[I]  Poll reveals public distrust for big tech’s digital money plans

[I]  EU’s fiscal rule book needs a rewrite, Brussels admits

[I]  US trade deficit shrinks for first time in six years

[I]  Spain’s central bank urges Madrid to stick with labour reform

[I]  Moscow to lift spending and stimulate growth

 

REUTERS

[I]  India aims to double defence exports in five years amid resource crunch

[I]  UK hopes for early free trade deal with Australia after leaving EU

[I]  Weak growth to pull down Indian rupee, coronavirus fears to impinge: Reuters poll

[I]  BOJ policymaker cautiously optimistic on global outlook despite virus worries 

[I]  India's pollution regulator threatens to shut 14 coal-fired power plants

 

BLOOMBERG 

[I]  OPEC+ Response to Virus Has Oil Rising Despite Stockpiles Build

[I]  Virus Forces Nomura to Rethink Bets on Low-Yielding Currencies

[I]  Brazil Caps Record-Breaking Easing Cycle With Final Rate Cut

[I]  Australia Says Economy to Take ‘Significant’ Hit From Virus

[I]  China’s Trade Likely Shrank in January Ahead of Holiday Shutdown

[I]  India’s Central Bank to Keep Focus on Inflation: Decision Guide

[I]  China’s $1.5 Trillion Pile of Bad Debt Attracts Foreign Funds

 

WALL STREET JOURNAL

[I]  U.S. Trade Deficit Narrows for First Time in Six Years

[I]  Trump Wants a Referendum on the Economy—and Sanders May Oblige

[I]  U.S. Private Sector Added 291,000 Jobs in January

[I]  Treasury Releases New Details on 20-Year Bond Plans

[I]  Coronavirus Ripple Effects Hit Production at Airbus, Hyundai

[I]  Lawmakers Push for Changes in Credit-Ratings Industry

 

BUSINESS LINE

[I]  Hopeful of listing LIC in next fiscal: DEA Secretary

[I]  Electric vehicle penetration in India to remain below 5% till 2025: ICRA

[I]  Customs duty hike impacts imports worth $8.9-billion

[I]  Indo-US trade deal likely to be sealed during President Trump’s India visit

[I]  Finance Commission picks agri reforms for incentive to States

[I]  Weak economic growth drags credit health of Indian firms to 8-year low

 

ECONOMIC TIMES

[I]  A new inflation anchor will help RBI in aiding growth

[I]  PSUs owe Rs 2.65-Lakh cr AGR dues to DoT: MoS

[I]  Middle class people 'trained enough' to pick right Income Tax option: Rajiv Kumar

[I]  Fitch says Budget light on new structural reforms

 

BUSINESS STANDARD

[I]  15th Finance Commission to set up panel to examine fiscal, debt situation

[I]  GIPC's IP Index: India improves score, ranks 40th among 53 countries

[I]  Debt fund managers, traders to seek clarity from RBI on Operation Twist

[I]  To avoid PMC-like crises, Cabinet approves banking regulation amendment law

[I]  Why govt may have to lower its FY20 tax revenue target a second time

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 12090;  USDINR DGCX: 71.3600;  DJIA Mini: 29291;  FTSE 100 Fut: 7482;  NIKKEI 225 Fut: 23803;  EUR-USD: 1.0998; Crude Oil (WTI): 51.84;  Gold (Spot): 1555

 

Best Regards, ARBIND
06 Feb 2020