MACRO ECONOMIC NEWS

THE PERFECT DAY FOR THE MOST BLISSFUL PLEASURE. WISHING AN ENJOYABLE DAY AHEAD. 

Macro Economic News 14 Mar 2020

 

Trump declares Covid a national emergency as US shuts down. U.S. policy makers are contemplating a significant fiscal stimulus to protect businesses and consumers from the economic disruptions while consumer views on the economy have slipped in early March. The world’s major central banks are straining to tamp down threats to financial markets and the global economy, held back by limited tools. Canada moves to shore up economy with emergency rate cut unleashing $215 Billion loan capacity while ECB enters damage limitation mode with pledge of more action. Similarly other central banks flash the cash as market panic drives liquidity squeeze. India shuts cinemas in Mumbai, bars in Bengaluru whereas Sitharaman says Govt and RBI will take necessary steps. Saudi Arabia is flooding markets with oil at prices as low as $25 per barrel, specifically targeting big refiners of Russian oil in Europe and Asia, in an escalation of its fight with Moscow for market share.

 

FINANCIAL TIMES

[I]  Canada moves to shore up economy with emergency rate cut

[I]  Investors fear that monetary easing is losing potency

[I]  Central banks struggle to contain wild swings caused by the coronavirus outbreak

[I]  Top of Form

Italy wonders where Europe’s solidarity is as virus strains show

[I]  Top of Form

ECB enters damage limitation mode with pledge of more action

[I]  Eurozone will flex budgets to fight virus, says Centeno

 

REUTERS

[I]  India shuts cinemas in Mumbai, bars in Bengaluru after coronavirus death

[I]  Canadian Parliament rushes through ratification of USMCA trade pact

[I]  As coronavirus chaos spreads globally, Trump declares U.S. emergency

[I]  Keep calm and carry on: what is the logic behind Britain's coronavirus bet?

[I]  Canadian Parliament rushes through ratification of USMCA trade pact

[I]  Central banks flash the cash as market panic drives liquidity squeeze

[I]  Saudi Arabia floods markets with $25 oil as Russia fight escalates

 

BLOOMBERG 

[I]  U.S. Consumer Sentiment Falls, But the Worst May Be Yet to Come

[I]  Borders Tighten Within EU as Germany Readies Virus Aid Package

[I]  Trump Declares Emergency; Pelosi Drafts Bill: Virus Update

[I]  ECB Rebuts Attacks as Visco Signals It Can Buy Italian Debt

[I]  Philippine Economy to Grow 6% Under Worst Scenario, Diokno Says

[I]  Hungary to Close Schools From Monday in About-Face for Orban

[I]  For the Muni-Bond Market, It’s the Worst Week Since 1987

[I]  Canada Bank Regulator Unleashes $215 Billion Loan Capacity

 

WALL STREET JOURNAL

[I]  U.S. Policy Makers Weigh Next Stage of Stimulus

[I]  Fed Accelerates Treasury Purchases to Address Market Strains

[I]  Mnuchin Says U.S. Businesses Will Have Access to Liquidity

[I]  U.S. Grants Tariff Exemptions for More Medical Goods From China

[I]  Fed Shifts to Remote Oversight of Wall Street Banks

[I]  Central Banks Struggle to Confront Threats to Markets, Economies

[I]  Banks Not Coming Close To Testing Upside Of Fed’s New Mega Repos

[I]  Newsletter: Recession Risks

 

BUSINESS LINE

[I]  ‘RBI must look into possible trends in retail inflation before deciding on rate revision’

[I]  February auto sales skid on economic slowdown, BS-VI transition

[I]  Coronavirus impact: Start-ups anticipate delays in funding, cash crunch

[I]  World economy powering down daily makes recession more likely

[I]  Indian carriers may ground 40-50 aircraft on weak demand, visa cancellations

 

ECONOMIC TIMES

[I]  Trump declares covid a national emergency as US shuts down

[I]  How Asia rose to the coronavirus challenge

[I]  Fate of the economy now hinges on the virus

[I]  Yes crisis raises questions on NBFC revival

[I]  Forex reserve hits new record high of $487.23b

[I]  Vegetable oil imports down 10.5% to 11.12 lakh tonnes in Feb

[I]  Dollar shines as pandemic drives rush for liquid assets

[I]  Exports post first rise in 7 months, grow by 2.91% in February

[I]  RBI revises exposure limits for urban cooperative banks to single, group borrowers

 

BUSINESS STANDARD

[I]  Market rebounds as bulls deliver knockout punch after opening-hour shocker

[I]  Coronavirus impact: India's Silicon Valley placed under lockdown for a week

[I]  Govt, RBI to take necessary steps, says Sitharaman on coronavirus impact

[I]  Fast-track rights issue: Sebi comes out with guidelines for REITs, InvITs

[I]  Market rout: RBI intervenes to protect continuously falling rupee

[I]  Short sellers caught off-guard as market swings within hours of opening

 

Best Regards, ARBIND

14 Mar 2020