Central Banks Fight Back, G-20 Meeting, China Recovery: Eco Day

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Happy Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend.

  • The standoff between central banks and bond traders took center stage in Asia after Treasury yields surged to a one-year high, forcing policymakers into a slew of debt purchases
  • The prospect that the U.S. recovery could decouple from developed-world peers is likely to figure high on the agenda for G-20 finance ministers and central bankers meeting Friday
  • Foreign workers are leaving Britain at the fastest pace since World War II, presenting a challenge to an economy already roiled by Brexit and the coronavirus
  • The Bank of Italy picked Luigi Federico Signorini for senior deputy governor, the second-highest ranked official and a job which has put previous holders on the path to higher office
  • Several Federal Reserve presidents argued that surging Treasury yields reflect economic optimism for a solid recovery from the pandemic, and said the central bank has no plans to tighten policy prematurely
  • Jumping bond yields have put the Bank of Japan in an awkward spot ahead of a March policy review
  • China’s economic recovery continued into February, powering along despite the Lunar New Year break and government efforts to discourage travel following Covid-19 outbreaks
  • BlackRock Inc.’s Philipp Hildebrand withdrew from the race to lead the Organization for Economic Cooperation and Development, leaving the field to candidates from Greece, Sweden and Australia
  • U.S. corporate leaders are increasingly confident they can charge more for their products without losing business
  • As the U.K, Europe and U.S. dare to dream about reopening and restoring their pandemic-ravaged economies, the theory that pent-up demand will drive a speedy recovery is being played out at the other end of the world
  • Central banks in Asia’s emerging economies added $467.7 billion to their foreign-exchange reserves last year, the most since 2013 and the taper tantrum

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