Oil and the Economy, U.K. Retail Woe, Japan Wage Growth: Eco Day

(Bloomberg) -- Good morning Americas. Here’s news from Bloomberg Economics to help get your Wednesday started:

• As oil trades at the highest level since 2014, here’s a look at what crude at $70 means for the world economy
  • Meanwhile, analysis by Bloomberg Economics shows President Trump’s exit from the Iran deal is only half the oil story, with stronger demand accounting for the rest of the gains this year
• Unconventional monetary policy and low interest rates are here to stay for the European Central Bank, according to Pacific Investment Management Co.
• The woes afflicting U.K. retailers continued in April, with sales dropping the most on record and demand for staff easing
  • Still, Bloomberg Economics say that, while they may be in the minority at this week’s meeting, Bank of England hawks won’t struggle to make a case for a hike
• Japan’s wage growth rose in March at the fastest pace in two decades, giving hope to policy makers looking for a boost to inflation
• Central banks across the world might so far seem patient amid Fed tightening, but higher U.S. Treasury yields are testing economies in Asia

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net.

To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Joanna Ossinger

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