MACRO ECONOMIC NEWS

NEW HOPE, NEW VIGOUR, NEW ASPIRATIONS AMID RENEWED UNCERTAINTY. WISHING A NOVEL WEEK AHEAD.

Macro Economic News 13 Apr 2020

India said its hospital network is adequately prepared to tackle the spread of the coronavirus, with over 100,000 beds ready to cater to a potential surge in patient numbers whereas Govt plans 20 lakh retail shops, Suraksha stores, ahead of possible lockdown extension. Like the great wars of the 20th century, some analysts and historians think the current crisis could fuel a new era of big government in which public officials control more of the levers of the economy, for better or for worse. The pandemic will eventually be behind us, but the impact of bear markets can linger in the minds of investors and future managers who were hit hard. Programs to support the economy through the coronavirus crisis illustrate the central bank’s sweeping influence and the potential peril that accompanies it. The G20 group is planning to offer lower income countries a moratorium on bilateral government loan repayments as part of an “action plan” to tackle the coronavirus pandemic and stave off an emerging markets debt crisis. Global economy already set for historic contraction and as a matter of fact Argentina is heading for ninth sovereign debt default. World Bank Sees Latin America Shrinking 4.6% and India growth at 1.5-2.8% - slowest since economic reforms three decades back.

FINANCIAL TIMES

[I]  G20 nations close in on debt deal for poor countries

[I]  Investment banks braced for pandemic earnings wipeout

[I]  Europe’s drive to save jobs risks fuelling north-south inequality

[I]  Global economy already set for historic contraction

[I]  Argentina heads for ninth sovereign debt default

[I]  Competition for overseas students is going to be fierce

REUTERS

[I]  India says ready to tackle rising cases, Bangladesh announces farm relief

[I]  OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic

[I]  Turkey calls on private banks to do more to help fight coronavirus

[I]  Seen everywhere in last U.S. crisis, moral hazard is nowhere in this one 

[I]  The choice facing investors: buy the bounce, or bet on a bottom

BLOOMBERG 

[I]  As Credit Markets Rebound, Neediest Borrowers Are Left Behind

[I]  A Rally in Need of Help: Emerging Markets Look for Salvation

[I]  There’s No Map for Rates Investors Plotting a Course to Recovery

[I]  Mexico President Faces Threats of Tax Revolts in Some States

[I]  Oil Pushes Higher After Historic OPEC+ Deal to Cut Production

[I]  Mexico’s Job Market Had Its Worst March in 25 Years

[I]  World Bank Sees Latin America Shrinking 4.6% in 2020

[I]  G-20 to Freeze Sovereign Debt Payments for Poor Countries: FT

[I]  A Daredevil’s Guide to a Very Wild Earnings Season

WALL STREET JOURNAL

[I]  Longer-Term Prospects of Coronavirus Response: Bigger State, Higher Taxes

[I]  Coronavirus Scars Might Weaken Economy for Years to Come

[I]  Economy Week Ahead: IMF Global Outlook; U.S. Jobless Claims, China’s GDP

[I]  Fed’s Emergence as a Power Player Poses Risks to Its Independence

[I]  U.S. Budget Deficit Grew 8% in First Half of Fiscal 2020, Treasury Says

[I]  Multibillion-Dollar Tax Muddle Hovers Behind Small-Business Loan Program

BUSINESS LINE

[I]  SEZs urges govt to permit sale of goods in domestic mkt at discounted import duty

[I]  Textile exporters seek interest-free loan

[I]  CII bats for battered steel industry

[I]  Suraksha stores: Govt plans 20 lakh retail shops ahead of possible lockdown extension

[I]  Finance Ministry relaxes norms for deposits in PPF, SSA and Post Office RD

[I]  Seven major consultancies join hands with Invest India for economic revival post Covid-19

[I]  Government kickstarts process to deposit combined EPF, EPS contribution

ECONOMIC TIMES

[I]  Sharing will ease the Covid burden. A corporate boss' view

[I]  NBFCs stuck in regulatory loophole

[I]  A survey on jobs has some bleak findings

[I]  Oil price war ends with historic Opec+ deal to cut production

[I]  Our godowns have enough food grains for nine months: Ram Vilas Paswan

[I]  World Bank sees FY21 India growth at 1.5-2.8%; slowest since economic reforms three decades back

[I]  Ordinance to amend IBC likely this week

[I]  PMO weighs food for all, may do away with need for ration card, IDs

BUSINESS STANDARD

[I]  Coronavirus lockdown: Govt may start economic activity in 'green zones'

[I]  Coronavirus impact: Slowdown-hit automobile hub stares at dead end

[I]  RBI to tighten private banks' succession planning with stricter timeline

[I]  Coronavirus outbreak pushes up demand for scenario planning by IT firms

[I]  Agricultural equipment market in slow lane amid coronavirus lockdown

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 9063;  USDINR DGCX: 76.7350;  DJIA Mini: 23409;  FTSE 100 Fut: 5819;  NIKKEI 225 Fut: 19300;  EUR-USD: 1.0927; Crude Oil (WTI): 23.94;  Gold (Spot): 1682

Best Regards, ARBIND

13 Apr 2020