{LONGTERMINVESTORS} Fwd: Morning Market Starter - October 3, 2016

---------- Forwarded message ----------
From: <research@icicibank.com>
Date: Mon, Oct 3, 2016 at 10:49 AM
Subject: Morning Market Starter - October 3, 2016
To: stockdesai@gmail.com

Central Bank watch: Federal Reserve Chair Janet L. Yellen said last week that the central bank is trying to tailor its supervision of the nation's financial system as it undertakes the sweeping reforms mandated by Congress,tightening capital requirements for the biggest banks while easing scrutiny of smaller institutions. A press release on the Bank of Japan's policy board meeting last week stated that one of the members championing an expansive easy-money policy had argued that the broader monetary base "has transformed people's perceptions of inflation and has led to a rise in inflation expectations." British Prime MinisterTheresa Maysaid that U.K. would trigger Article 50, commencing the process of disentangling itself from the European Union by the end of March. Chart: US PCE Inflation rose in August 2016 Global market developments: Macroeconomic data The UK economy grew by a better than expected in Q2 2016 at 0.7% QoQ vs. the earlier estimate of 0.6% QoQ. According to theflash estimatefrom the Eurostat, the core CPI inflation stayed steady at 0.8% YoY for September, in line with consensus expectations. Meanwhile, the headline inflation print edged up to 0.4% YoY from 0.2% YoY earlier. USPCE inflation rose to 1.0% YoY in August (prior: 0.8% YoY). The core data, i.e. excluding food and energy, saw a 1.7% increase in August, following a 1.6% rise in the previous month. Japan's Tankan large mfg index showed sentiment among large manufacturers at plus-6 points, flat on the previous quarter's reading. US markets ended in the green on Friday amid a slight rebound in risk appetite as concerns over  Deutsche Bank eased somewhat. Dow Jones and S&P ended higher by 0.9% and 0.8% respectively. Asian equities are trading largely in the green this morning, tracking cues from US markets. Gains in the region are being led by Nikkei (1.2%) and Hang Seng (1.4%). Following suit, Korean and Australian markets are trading in the green. Meanwhile, markets in China are on a week long holiday.  US Treasuries are trading lower this morning as improvement in risk sentiment in global financial markets is curbing demand for safer US debt. The 10Y benchmark yield is currently hovering at 1.61% levels, vs. Friday's close of 1.59%. Global market snapshot Domestic market developments: Indian Oil Corp Ltd hiked price of petrol by 28 paise per litre and cut price of diesel by 6 paise a litre on Friday. India's eight core infrastructure industries growth came in at 3.2% YoY in August (3.0% YoY previously). Under the Income disclosure scheme, the tax department has reported RS 65250 crores worth black money from 64,275 declaration. The Indian Rupee is trading stronger at 66.48 levels vis-a-vis the US Dollar (prior: 66.61) taking cues from a softer Dollar. Indian Government bond yield is lower today as against previous close, with the 10Y benchmark hovering at 6.82% levels. Regards, ICICI Bank Contact: Samir Tripathi (+91-22) 2653-7233 samir.tripathi@icicibank.com Niharika Tripathi (+91-22) 2653-1414 (extn: 6943) niharika.tripathi@icicibank.com Sumedha Dasgupta (+91-22) 2653-1414 (extn: 7243) sumedha.dasgupta@icicibank.com ​

--

CA. Rajesh Desai

--
You received this message because you are subscribed to the Google Groups "LONGTERMINVESTORSRESEARCH" group.
To unsubscribe from this group and stop receiving emails from it, send an email to longterminvestorsresearch+unsubscribe@googlegroups.com.
Visit this group at https://groups.google.com/group/longterminvestorsresearch.
For more options, visit https://groups.google.com/d/optout.