China Lags on U.S. Imports; Global Recovery, EU Deal: Eco Day

Welcome to Tuesday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • The proposal favored by U.S. Republicans for extending supplemental unemployment benefits aiding millions of Americans could take some states the rest of the year to implement
  • China continues to lag behind the pace of imports from the U.S. needed to meet the terms of the two nations’ trade deal, amid a rapidly worsening diplomatic standoff that’s sparking global fears of a new Cold War
  • The world economy’s fragile recovery is in danger of stalling. A resurgence of coronavirus infections across the Asia Pacific region, which was considered to have broadly curbed the virus more effectively than elsewhere, is being viewed as an early warning for the rest of the world
  • The European Union appears set to keep its external borders shut to travelers from most countries including the U.S. for at least two more weeks amid spikes in coronavirus cases, according to two officials familiar with the matter
  • The European Central Bank extended a de facto ban on banks returning capital to shareholders and urged them to show restraint on bonuses amid the coronavirus outbreak, dealing a blow to some lenders who had lobbied to resume business as usual
  • Bloomberg Economics looks at which countries might benefit the most from Europe’s 750 billion-euro ($880 billion) deal to rescue the EU’s hardest-hit economies
  • Bank Indonesia’s unprecedented move to buy about $27 billion in bonds directly from the government may prove to be an exception rather than the norm in emerging markets

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