MACRO ECONOMIC NEWS

WE TRUST WE'LL GROW ANEW WITH BETTER ABILITY TO ENJOY AND APPRECIATE EVERYTHING THAT REALLY MATTERS. WISHING A CANDID WEEKEND AHEAD.

Macro Economic News 11 Apr 2020

Programs to support the economy through the coronavirus crisis illustrate the central bank’s sweeping influence and the potential peril that accompanies it. A virtual summit of Group of 20 energy ministers failed to produce a detailed plan to help resolve an unprecedented oil glut partly triggered by the coronavirus pandemic. The Fed is adjusting its annual “stress tests” for banks to incorporate lenders’ performance during the coronavirus-triggered downturn, which is worse than the hypothetical scenarios that the central bank previously planned. G20 backs largest oil supply agreement in history while Russia tapped foreign exchange reserves as rouble tumbled although emerging economies seek to support currencies as they face historic sell-off.

FINANCIAL TIMES

[I]  G20 backs largest oil supply agreement in history

[I]  US and others throw weight behind Opec and Russia’s production cuts

[I]  Top of Form

Russia tapped foreign exchange reserves as rouble tumbled

[I]  Emerging economies seek to support currencies as they face historic sell-off

[I]  Top of Form

Top of Form

China consumer price growth slows after hitting 8-year high

[I]  The eurozone is at risk of a debt crisis worse than the last one

[I]  Eurozone countries strike emergency deal on coronavirus rescue 

[I]  Investors should ask who will buy all the new US government debt

[I]  IMF boosts emergency lending capacity to $100bn

REUTERS

[I]  India's coronavirus relief plan could leave millions without food aid

[I]  Millions filed for U.S. unemployment - many are still waiting for the cash

[I]  IMF, World Bank aid aimed at helping countries battle pandemic

[I]  Global business, workers, civil society join call for debt relief for poorer nations

[I]  U.S. six-month deficit rises to $744 billion ahead of virus budget storm in April

BLOOMBERG 

[I]  Record Bankruptcies Predicted in Next Year as Unemployment Soars

[I]  Trump Steers Historic Deal to Cut World Oil Output Toward Finish

[I]  Europe’s Peripheral Bonds Get Lifeline From Last-Minute EU Deal

[I]  Another Tail Risk Hedge Fund Had Eye-Popping March Returns

[I]  Turkey Seeks FX Swaps With G-20 States Including U.S.

[I]  U.S. Inflation Slowed Sharply in March While Core Index Fell

[I]  Let Debt Loose and Get ‘Hanged’ in Market, Orban Warns

[I]  China’s Bank Lending Surges After PBOC Steps Up Support

WALL STREET JOURNAL

[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]  Coronavirus Disruptions Pushed U.S. Prices Down in March

[I]  Industrialized Nations Fail to Come Up With Oil-Market Fix

[I]  The Fed’s Main Street Lending Program: Who’s Eligible?

[I]  Small-Business Loans Face Delays

[I]  This Year’s Stress Test For Big Banks Is Real: the New Coronavirus

BUSINESS LINE

[I]  FinMin’s monthly report indicates fiscal deficit may widen in FY2019-20

[I]  Receipts to meet 42 per cent of expenditure have to be raised in March

[I]  Covid-19 impact to be felt beyond six months: EY survey

[I]  Navi Mumbai APMC faces flak for partially closing market

[I]  Centre lowers levies on coal to support consumers

ECONOMIC TIMES

[I]  Barring farmers, rest may be asked to stay at home post April 14

[I]  NITI Aayog suggests mandi norms relaxation for farmers for 6 months

[I]  Unseasonal rains to harm rabi Crops: IMD

[I]  Pre-monsoon sowing of kharif crops begins; paddy acreage up 27 per cent

[I]  Experts favour a gradual opening up of the economy

[I]  View: Coronavirus could be India's black swan event

BUSINESS STANDARD

[I]  Shortage of workers in clearing cargo clogs airports, ports, railways

[I]  NSO struggles to gather accurate inflation, industrial data during lockdown

[I]  Ball in Centre's court: States for lockdown extension as India sits tight

[I]  India-focused agri-input players with strong balance sheet better placed

[I]  Workers to owners count losses as Bengal's small factory hub shuts down

[I]  ADB pledges $2.2 bn to bolster India's health infrastructure, MSMEs

Best Regards, ARBIND

11 Apr 2020