Germany's Austerity Mindset, U.S. Jobs, Trade War Games: Eco Day

(Bloomberg) --

Happy Friday Europe. Here’s the latest news and analysis from Bloomberg Economics to help get your day started and send you into the weekend:

• Europe aims to keep a grip on the International Monetary Fund’s top post as Christine Lagarde prepares to step down; in other personnel news, Corbynomics is stalking the race for Britain’s next prime minister
• Austerity mode. It costs little, if any, for the German government to borrow, so it’s a bit of a worry that they are keeping purse strings so tight
• Blockbuster data. The most-anticipated economic report of the week, on U.S. jobs, could definitively nudge the Federal Reserve to an interest-rate cut at the end of the month; here’s what economists are saying ahead of the release
• Trade wars. China continues to demand that the U.S. lift all tariffs; meanwhile, Vietnam is trying to satisfy the U.S. through a renewed trans-shipment crackdown and greater caution around currency intervention
• Inequality widens. The International Labour Organization says only 10% of workers are earning nearly half of all global pay. The lowest 20% earn less than 1% of total labor income
• What a week. All the match-ups in the global trade fight club, plus how the central banks are managing the headwinds and personnel changes in top economic posts feature in our wrap of the week

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