FREAKY CRAZY DAYS ARE TAKING COLOURFUL SHADES. WISHING A VIBRANT WEEKEND AHEAD.

Macro Economic News 29 Feb 2020

African youth on life and work are confident of ‘my future is here’ as two-thirds of respondents to survey say this is the start of the “African Century”. Nigeria confirms first case of coronavirus in sub-Saharan Africa while health experts warn that the region is ill-equipped to deal with a potential pandemic. Federal Reserve Chairman Jerome Powell signalled the central bank was prepared to cut interest rates if needed to cushion the economy against the effects of a widening global slowdown. Official gauges of China’s factory and non-factory activity plunged in February as the nation’s economy struggled with the coronavirus epidemic although the outstanding amount of temporary money the Federal Reserve has added to the financial system fell by a notable amount this week. German inflation and jobless figures boost Eurozone despite companies, across globe, revealing stark initial effects. Indian economic growth slows, while Brazil is likely to cut 2020 GDP forecast and forecasters downgrading U.S. economic outlook, although Indian FinMin says that economy has bottomed out as 'steadiness' in economy, with Q3 GDP growth at 4.7%, is a good sign. US-India Business Council confirms about a larger trade deal between New Delhi and Washington to have better outcome.

 

FINANCIAL TIMES

[I]  Fed to ‘act as appropriate’ to support economy

[I]  Africa’s youth on life and work: ‘my future is here’

[I]  Nigeria confirms first case of coronavirus in sub-Saharan Africa

[I]  German inflation and jobless figures boost eurozone

[I]  Border red tape will mean 50,000 new form-fillers after Brexit

[I]  Saudis seek bigger oil cut as coronavirus slashes demand

[I]  EU seeks to tighten emission targets every 5 years

[I]  Companies reveal stark initial effects from coronavirus fallout

REUTERS

[I]  South Korea tells citizens to stay home at 'critical moment' in virus battle

[I]  Indian economic growth slows, with coronavirus impact to come

[I]  Global downturn looms as countries struggle to contain coronavirus outbreak

[I]  Vietnam February consumer price index rises 5.4% year-on-year: statistics office 

[I]  Switzerland bans all big events as virus fears mount

[I]  USTR vows to push for trade deals with Britain, EU; seeks reforms at WTO

[I]  Cooling consumer spending, inflation put spotlight on Fed amid coronavirus

BLOOMBERG 

[I]  U.S. Stocks Tumble 11% in Worst Week Since Crisis: Markets Wrap

[I]  Powell’s ‘Whatever It Takes’ Moment Is Here, But Will It Work?

[I]  China Posts Weakest Factory Activity on Record

[I]  Brazil Likely to Cut 2020 GDP Forecast Amid Coronavirus Weakness

[I]  Forecasters Downgrade U.S. Economic Outlook as Virus Spreads

[I]  SEC Quashes Dreams of Bitcoin ETF With Another Rejection

[I]  Charting the Global Economy: Virus Fears Rattle Sentiment

WALL STREET JOURNAL

[I]  Fed: Will ‘Act as Appropriate to Support the Economy’

[I]  China Purchasing Indexes Drop to Record Lows

[I]  Jitters About Market, Virus Followed January Bump in Income

[I]  Fed’s Bullard Open to Rate Cut, But Leans Against It

[I]  Fed’s Temporary Liquidity Sees Notable Declines This Week

BUSINESS LINE

[I]  Economy has bottomed out, says FinMin

[I]  One nation-one ration card in 20 States from June 1, says Paswan

[I]  ‘Better infrastructure must for farmers at markets’

[I]  What to watch: Auto sales: Will dull phase continue?

[I]  Corporate governance bar must be raised

[I]  The ‘personal’ angle to genetic data privacy

ECONOMIC TIMES

[I]  70:20:10 rule to counter a virus strike

[I]  What Sitharaman said about Q3 GDP numbers

[I]  GST: Method to claim Input Tax Credit answered

[I]  Forex reserve hits fresh record of $476.12 billion

[I]  Larger trade deal between New Delhi, Washington to have better outcome: US-India Business Council

[I]  With Q3 GDP growth at 4.7%, FM says 'steadiness' in economy is a good sign

[I]  Core sector grows by 2.2% in Jan as power generation picks up

BUSINESS STANDARD

[I]  GDP growth slows to nearly 7-year low of 4.7% in Q3 on weak manufacturing

[I]  Black Friday for markets: Sensex falls 1,448 points, Nifty drops 432 points

[I]  Indian aviation companies rejig routes as coronavirus scare shrinks the sky

[I]  India's construction sector witnesses sharper decline in third quarter

[I]  Economic tonic from Rajan: Fight virus first and worry about stimulus later

[I]  April-January fiscal deficit hits 128.5% of FY20 revised estimates

[I]  Global smartphone sales latest victim of Coronavirus outbreak: Report

Best Regards, ARBIND

29 Feb 2020

FOND FRIDAY IS FINDING FREAKING FANATIC FANCIES. WISHING A FANTASTIC DAY AHEAD.

Macro Economic News 28 Feb 2020

 

World economy risks worst year since 2009 while market witnessed the fastest stock market correction on record fearing world stocks heading for worst week since 2008 as virus fears grip markets. Indonesian stocks tumble as virus concerns mount while Philippine stock slump sends market toward worst week since 2011. Global stock losses hit $6 trillion as virus fear spreads while Sebi wants MFs to be agile in stress events, warns industry on mis-selling. Spreading of the epidemic led to school closures, public-event cancellations, countries limiting entry of travellers and wide business disruptions but economists say an activity slowdown would be followed by a sharp rebound while U.S. Business Investment rise is a sign businesses were more willing to spend in early 2020. Auto parts shortages on everything from electronics to brake pads could soon hit North American vehicle factories due to the coronavirus outbreak. U.K. Consumer confidence rises with appetite for big purchases while Britain unveiled a negotiating mandate for talks with the European Union that puts it on a collision course with Brussels, saying it was ready to walk away if "good progress" was not made. As per poll, India’s GDP is seen growing at 4.7 per cent in December quarter while Australia appears keen to partner India in energy and resources sector. Govt asks banks to clear 1.18 lakh pending PMEGP loan applications by Mar 15. Interestingly Individuals lead the way in philanthropy, even as firms' contribution falls.

 

FINANCIAL TIMES

[I]  Closing sell-off sends US stocks into correction territory

[I]  Japan shuts all schools to combat coronavirus

[I]  Johnson to threaten to walk away from Brexit trade talks

[I]  Carney and Lagarde press business on climate change

[I]  Lagarde says virus yet to cause ‘long-lasting shock’

[I]  Expat bankers head for exits to flee coronavirus

 

REUTERS

[I]  World stocks set for worst week since 2008 as virus fears grip markets

[I]  Japan Abe says ready to protect economy from coronavirus impact

[I]  Japan's Jan factory output beats forecasts but slowdown expected 

[I]  Britain, on trade collision course with EU, says it could walk away

[I]  New Zealand limits entry of travellers from Iran on coronavirus fears

[I]  Investors ditch market risk as stocks fall into correction

[I]  U.S. economy grows steadily in fourth quarter, but coronavirus looms large

 

BLOOMBERG 

[I]  World Economy Risks Worst Year Since 2009 as Virus Hopes Fade

[I]  We Just Witnessed The Fastest Stock Market Correction on Record

[I]  India’s Fragile Economic Rebound Faces New Risk From Coronavirus

[I]  Indonesian Stocks Tumble as Virus Concerns Mount

[I]  Philippine Stock Slump Sends Market Toward Worst Week Since 2011

[I]  Global Stock Losses Hit $6 Trillion As Virus Fear Spreads

[I]  U.K. Consumer Confidence Rises With Appetite for Big Purchases

[I]  Shenzhen Beats Hong Kong For Investors Buying Prime Property

[I]  Extended China Factory Shutdowns to Hurt Indian Production Lines

 

WALL STREET JOURNAL

[I]  U.S. Coronavirus Outbreak Would Pose Risk to Record Expansion

[I]  U.S. Business Investment Rose Ahead of Coronavirus

[I]  Fed’s Evans Says Too Soon to Say if Coronavirus Shock Needs Rate Cut

[I]  Coronavirus Impact Seen Prolonging U.S. Freight Slump

[I]  Auto Manufacturers Flying in Parts as Virus Threatens Supply Chain

[I]  Fed’s Wait-and-See Posture Tested by Virus

 

BUSINESS LINE

[I]  Commerce Ministry assessing impact on pharma ingredient supplies from China

[I]  India among top suppliers of pharma drugs used in trafficking: UN report

[I]  India’s GDP seen growing at 4.7 per cent in December quarter: Poll

[I]  A 360-degree analysis of India’s agricultural economy

[I]  Australia keen to partner India in energy and resources sector

 

ECONOMIC TIMES

[I]  Your PF may get you low returns this year

[I]  How to take US-India energy cooperation to the next level

[I]  Q3 GDP: Third time lucky or more bad news?

[I]  Live streaming emerging as the next big thing

[I]  Virus pose threat to India's fragile economy

[I]  Shared economy in India to be USD 2 billion industry by 2020-end: Maple Capital

[I]  BOT no more: Is the Build-Operate-Transfer model of road developing dead?

[I]  Govt asks banks to clear 1.18 lakh pending PMEGP loan applications by Mar 15

 

BUSINESS STANDARD

[I]  Coronavirus outbreak: Govt to fast-track manufacturing of tech goods

[I]  Individuals lead the way in philanthropy, even as firms' contribution falls

[I]  Online private labels may grow 1.6 times faster than e-commerce platforms

[I]  Sebi wants MFs to be agile in stress events, warns industry on mis-selling

[I]  Onion jumps 30% to hit a two-week high as export curbs are lifted

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11367;  USDINR DGCX: 72.1700;  DJIA Mini: 25317;  FTSE 100 Fut: 6571;  NIKKEI 225 Fut: 21185;  EUR-USD: 1.0991; Crude Oil (WTI): 45.75;  Gold (Spot): 1644

 

Best Regards, ARBIND
28 Feb 2020

TEDDY IS LITTLE MADDY DEAR; ENJOY THE SHOW; CHEER THE MOMENT. WISHING A JOLLY DAY AHEAD.

Macro Economic News 27 Feb 2020

 

President Trump’s diplomatic drop-in was intense and brief; with host PM Modi providing expansive red-carpet treatment, as the two leaders sidestepped trade issues. India might go slow on trade deal with US with both sides consider to work on wider FTA However, Delhi will soon engage with Washington DC to finalise the next spate of visits by trade officials. Deepening economic damage from China’s coronavirus outbreak is forcing its leadership to confront an agonizing decision: when to ease quarantine restrictions that are strangling growth. Companies in Europe’s largest economy are rushing to limit the impact of the spreading epidemic, which hits a weakened German economy in a painful spot. German finance minister eyes plan to ease strict ‘debt brake’ while EU trade chief says US ‘mini deal’ is within reach. South Africa cuts public wage bill to avoid downgrade whereas dovish board member calls for review of BOJ's policy framework and New Zealand prepares for 'serious impact' on economy from virus. UK car industry seeks support eyeing free-trade Brexit deal as output falls while Moody finds Car sales in India will stabilise in 2020 due to stimulus measures and discounts. Panagariya opines India’s slowdown has bottomed out while economists expect GDP growth in Q3 likely to stay flat at 4.5 per cent. Firms loosen purse strings to help promoters by raining dividends on street whereas HNIs flock to commercial properties as residential market slows down amid FM warning to banks against trusting credit scores of loan seekers 'blindly'.

 

FINANCIAL TIMES

[I]  German finance minister eyes plan to ease strict ‘debt brake’

[I]  EU trade chief says US ‘mini deal’ is within reach

[I]  South Africa cuts public wage bill to avoid downgrade

[I]  European companies face coronavirus hit to supply chains

[I]  Brace for more virus cases, warns UK health secretary

[I]  Trump looks to defuse coronavirus threat and boost markets

 

REUTERS

[I]  Japan defends cautious approach on coronavirus testing amid concerns

[I]  Dovish board member calls for review of BOJ's policy framework

[I]  UK car industry seeks support, free-trade Brexit deal, as output falls

[I]  New Zealand prepared for 'serious impact' on economy from virus - finance minister

[I]  Lower mortgage rates, mild weather lift U.S. new home sales to 12-1/2-year high

[I]  China's economic recovery accelerating, Politburo says

 

BLOOMBERG 

[I]  China May Cut Deposit Rates So Battered Banks Can Keep Lending

[I]  Volatility Market Signals the Stock Pain Isn't Going Away Soon

[I]  U.S. Warns on Travel to Korea; Trump Taps Pence: Virus Update

[I]  Australia Has World’s Best-Performing Stock Market Since 1900

[I]  Bank of Korea Stands Pat Despite Virus Hit to Growth View

[I]  Yellen Says Coronavirus Could Throw U.S. Economy Into Recession

[I]  Early Fed Cut, BOK Under Pressure, China Deposit Rate: Eco Day

 

WALL STREET JOURNAL

[I]  As China’s Economy Suffers, Xi Faces Pressure to Lift Virus Restrictions

[I]  The German Economy Was Faltering, Then Came the Coronavirus

[I]  Fed’s Wait-and-See Posture Tested by Virus

[I]  China Lifts Import Restrictions on U.S. Farm Goods

[I]  The Taj Mahal, Folk Dancers, ‘Hey Jude’: Trump’s 36 Hours in India

[I]  Labor Rule Impedes Fast-Food, Contract Workers’ Ability to Unionize

 

BUSINESS LINE

[I]  India faces WTO heat to exempt food for humanitarian needs from export curbs

[I]  New Delhi has been resisting move as it could compromise food security

[I]  Car sales to stabilise in 2020 due to stimulus measures, discounts: Moody’s

[I]  RBI asks banks to extend farm loans eligible for subvention only via KCCs

[I]  Soon, goods can be moved between India and Russia via Iran: Concor

[I]  Cabinet okays adoption of Central Acts in J&K

 

ECONOMIC TIMES

[I]  Car sales seen to be pulling out of slow lane

[I]  India's slowdown has bottomed out, says Panagariya

[I]  ADB raises $118 million from rupee-linked bonds

[I]  First leg of India-US trade deal likely in 3 months

[I]  GDP growth in Q3 likely to stay flat at 4.5 per cent: Economists

[I]  States will be ranked basis their efforts to promote MSMEs

 

BUSINESS STANDARD

[I]  Raining dividends on Street: Firms loosen purse strings to help promoters

[I]  FM warns banks against trusting credit scores of loan seekers 'blindly'

[I]  HNIs flock to commercial properties as residential market slows down

[I]  Start-ups in race to pick a big slice of India's wellness market

[I]  In a major boost to electronic giants, SEZs clear local sourcing test

[I]  Govt's new audit rules to shield companies against financial frauds

[I]  India's largest solar tender stuck, firms await greenshoe option nod

[I]  India to go slow on trade deal with US, both sides to work on wider FTA

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11671;  USDINR DGCX: 71.9725;  DJIA Mini: 26958;  FTSE 100 Fut: 6863;  NIKKEI 225 Fut: 22025;  EUR-USD: 1.0906; Crude Oil (WTI): 48.05;  Gold (Spot): 1647

 

Best Regards, ARBIND
27 Feb 2020