MACRO ECONOMIC NEWS

FEEL HIGH ALONG WITH THE HAPPENING AROUND US. WISHING A GRAND DAY AHEAD.

Macro Economic News 16 Apr 2020

India will allow industries located in the countryside to reopen next week, as well as resuming farm activities to reduce the pain for millions of people hit by a lengthy shutdown in its coronavirus battle. Intensifying debate over when to reopen the economy has left the impression that economists and epidemiologists are at odds; but they aren’t. US industrial production output to plunge at the steepest rate in more than 70 years. Coronavirus fight Is creating mountains of global debt as emergency efforts totaling nearly $8 trillion in spending, loans and guarantees could pose a threat after the pandemic eases, the International Monetary Fund said in a report. IMF also sees Asia Pacific economic growth at standstill in 2020. Low-income countries got the green light to suspend debt payments to other governments, making more money available to fight the coronavirus pandemic and stabilize their economies as G20 agrees debt relief for low income nations.

FINANCIAL TIMES

[I]  US allies line up to condemn Trump’s WHO funding freeze

[I]  Biggest Wall Street banks set aside $25bn for loan losses

[I]  India to relax some lockdown restrictions

[I]  Europe’s trade unions wary of fallout from coronavirus

[I]  Governments face ‘massive’ rise in public debt, IMF warns

[I]  G20 agrees debt relief for low income nations 

[I]  US confident of ‘fundamental shift’ in oil politics

[I]  EU bars bailed-out companies from paying dividends and bonuses

[I]  US holds off on IMF plan to boost emerging economies

REUTERS

[I]  India, Pakistan seek to lift some curbs to help millions hit by coronavirus lockdowns

[I]  India permits resumption of some industries in rural areas from April 20

[I]  India March exports shrink, outlook grim as coronavirus hits demand

[I]  Japan's Abe leans toward blanket cash payouts to fight coronavirus downturn

[I]  Japan urges citizens to isolate as reports warn of 400,000 deaths

[I]  UK virus outbreak "probably" peaking, but too soon to ease lockdown

[I]  Japan business mood slumps to decade low on coronavirus hit - Reuters Tankan

BLOOMBERG 

[I]  IMF Sees Asia Pacific Economic Growth at Standstill in 2020

[I]  China’s Historic Slump to Lay Bare the Scale of the Task Ahead

[I]  Russia’s Oil Pain Deepens as OPEC+ Prepares to Cut Output

[I]  U.S. Stock Futures Extend Loss Following Gloomy Economic Data

[I]  Australian Employment Holds Up for Now as Virus Blow Looms

[I]  South Korea Plans Emergency Handouts to Households Hit by Virus

WALL STREET JOURNAL

[I]  Economics vs. Epidemiology: Quantifying the Trade-Off

[I]  Swaths of U.S. Economy Froze in March

[I]  U.S. Economy ‘Contracted Sharply and Abruptly,’ Fed’s Beige Book Says

[I]  Coronavirus Fight Is Creating Mountains of Global Debt

[I]  Small-Business Aid Funds Nearly Exhausted

[I]  Where the Stimulus Loans for Small Businesses Are Going

[I]  Low-Income Nations Get Go-Ahead to Suspend Debt Payments

BUSINESS LINE

[I]  Exports plummet 34% in March

[I]  Employers get one month’s time to deposit their share in EPF

[I]  India’s proposal on subsidies for poor fishermen awaits WTO response

[I]  Bengal orders re-opening of jute mills, but with riders

[I]  Farming, allied activities to resume on April 20

[I]  WPI Inflation down to 1%

ECONOMIC TIMES

[I]  India is ready with second round of stimulus

[I]  Arvind Subramanian on what's next for India

[I]  FPI investment limit on govt papers remain unchanged: RBI

[I]  RBI to conduct fourth LTRO for Rs 25,000 crore on April 17

[I]  Wheat procurement kicks off, government gears up for kharif

[I]  India Inc's overseas investment rises marginally to $2.7 billion in March

[I]  Construction contracts plunge 43 percent in FY20: Report

BUSINESS STANDARD

[I]  Exports fall at fastest pace in 25 years in March amid Covid-19 outbreak

[I]  RBI, Sebi split over default recognition; MFs, rating agencies seek clarity

[I]  'Normal' monsoon forecast by IMD brings relief from coronavirus heat

[I]  Domestic airlines gear up for May 4 resumption; to adopt social distancing

[I]  E-commerce firms seek clarity on non-essentials; gear up for MHA guidelines

[I]  India's economy may see first contraction in 40 years on lockdown extension

[I]  India agriculture output lone bright spot in an economy set to shrink

MARKETS (10:30 am)

[I]  SGX NIFTY Fut: 8951;  USDINR DGCX: 76.9325;  DJIA Mini: 23320;  FTSE 100 Fut: 5570;  NIKKEI 225 Fut: 19260;  EUR-USD: 1.0875; Crude Oil (WTI): 19.99;  Gold (Spot): 1714

Best Regards, ARBIND

16 Apr 2020