MACRO ECONOMIC NEWS

INNER PEACE AND INNER JOURNEY IS THE INNATE ESSENTIALS. WISHING A CALMING WEEKEND AHEAD.

Macro Economic News 21 Mar 2020

Finland’s residents enjoy a high quality of life, security and public services, with rates of inequality and poverty among the lowest of all OECD countries. The U.S. Federal Reserve continued to roll out emergency support as it enhanced efforts with other major central banks to ease a global dollar-funding crunch. The Trump administration said it was soliciting public comments on lifting additional tariffs on Chinese imports that could help the United States battle the pandemic, showing some flexibility in its trade war against Beijing. Shutdowns across the country are hurting low-wage workers, many of whom live paycheck to paycheck. Their jobs often require personal contact, such as running a cash register or cleaning hotel rooms, and are the most vulnerable to the employment and pay cuts cascading through the economy. States respond to a surge in jobless claims and some are easing requirements to help more people. Russia holds rates to protect rouble despite virus slowdown while US orders Stay-at-home in major states to deal with the crisis. Central Banks announce coordinated action to enhance Swap lines. India is calling for "resolve and restraint" to fight the pandemic whereas Maharashtra CM orders closure of workplaces from midnight tonight till March 31 and UP CM tweets that Rs 1000 each will be given to 15 lakh daily wage labourers and 20.37 lakh construction workers to help them meet their daily needs. India Inc rules out cut in jobs and salaries amid coronavirus while Government advises companies to implement 'work from home' policy.

FINANCIAL TIMES

[I]  New restrictions set for London venues to counter coronavirus

[I]  Sunak to launch massive rescue package for stricken UK companies

[I]  UK food suppliers battle to fill the empty shelves

[I]  Investment veterans try to get to grips with ‘broken’ markets

[I]  Freelancers fight for support through coronavirus crisis

[I]  Coronavirus fears hit UK property market as viewings dry up

[I]  Focus on blanket EM debt default risk may be misplaced

[I]  Russia holds rates to protect rouble despite virus slowdown

REUTERS

[I]  Stay-at-home orders in major states mark next phase of U.S. coronavirus crisis

[I]  Indian banks seek more time over bad loan classification

[I]  U.S. seeks comments on tariff cuts for Chinese imports to aid coronavirus battle

[I]  U.S. airlines call for payroll protections as aid talks continue

[I]  Downgrade doom looms for coronavirus-hit firms and markets

[I]  Fed announces more emergency moves to stem dollar, liquidity strains

BLOOMBERG 

[I]  Markets Diary of a Crisis: Inside Wall Street’s Most Volatile Ever Week

[I]  Oil Suffers Biggest Weekly Loss Since 1991 With Demand in Focus

[I]  U.S. Junk Bonds Enter Distress, Spreads Top 1,000 Basis Points

[I]  Rejected Venezuela Returns to IMF Seeking $1 Billion in Aid

[I]  These Five Warning Signs Highlight Virus’s Rapid Economic Impact

[I]  Leveraged-Loan Stress Prompts U.S. to Discuss Ways to Ease Pain

[I]  Fed Already About Halfway Through Bond-Buying Announced Sunday

WALL STREET JOURNAL

[I]  ‘I Have Bills I Have to Pay.’ Low-Wage Workers Face Brunt of Virus Crisis.

[I]  Out of a Job? What to Know About Getting Unemployment Benefits

[I]  Lessons for the Coronavirus Crisis From Six Other Disasters

[I]  Fed Adjusts Money-Market Lending Facility to Include Municipal Debt

[I]  U.S. Extends Individual Tax Filing Deadline to July 15

[I]  IRS Rejects Congressman’s Argument That Trump Emergency Declaration Suspends Tax Payments

BUSINESS LINE

[I]  To tackle volatility, SEBI curbs short-selling in equity derivatives

[I]  As virus spreads rapidly, insurers launch affordable health policies

[I]  Amid bear’s roar, are you listening to these silent voices?

[I]  Centre, RBI must take adequate measures to prevent rupee volatility

[I]  How to get women into C-suite jobs

[I]  A wall of bond supply to fight virus is roiling debt markets

[I]  OMO: Reserve Bank to infuse ₹30,000-crore liquidity

[I]  Finland is world’s happiest country

[I]  Maharashtra CM orders closure of workplaces from midnight tonight till March 31

ECONOMIC TIMES

[I]  Why India needs a stimulus package quickly

[I]  Forex reserve falls by $5.3 billion in a week

[I]  Govt allows pharma formulations exports under export-linked scheme

[I]  Coronavirus impact: Over 50% of India Inc sees impact on ops, 80% witness fall in cash flow

[I]  Government advises companies to implement 'work from home' policy

[I]  Coronavirus: Centre relaxes leave rules for staff over 50 years

[I]  India Inc suggests measures for the impact of Covid-19

[I]  101 Special Economic Zones de-notified between April 2008 and Feb 2020: Govt

BUSINESS STANDARD

[I]  RBI's coronavirus contingency plan: Keep it going from a secret location

[I]  India Inc rules out cut in jobs and salaries amid coronavirus outbreak

[I]  Sebi unveils measures to tackle market volatility, curbs short selling

[I]  Airlines may ground 68% planes amid coronavirus outbreak, says govt

[I]  Cabinet passes a policy to promote manufacture and growth of bulk drugs

[I]  Maharashtra in partial lock down; shops & offices in Mumbai, Pune shut

Best Regards, ARBIND

21 Mar 2020