Dubai Homes Alert, Russia Inflation, Steady China: Eco Day

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

• Central banks globally are moving from peak support toward a new phase for Covid recovery
• Get your holiday shopping done early, as shipping delays and soaring delivery costs are set to get even worse
• Dubai’s soaring luxury home sales could be sign of an era of real-estate exuberance
• Russia’s answer to the surge in global commodity prices has been a mass experiment with duties, export curbs and price controls. It’s not working
• South Africa’s recovery from its worst contraction in a century last year is imperiled by new restrictions to curb a virus surge
• China’s economy showed signs of more balanced expansion in June, with solid underlying growth momentum, early indicators tracked by Bloomberg show
• Boston Federal Reserve chief Eric Rosengren sees an interest-rate hike as soon as late 2022 amid job-market healing
• Japan’s outlook for this year has brightened on steady exports and pent-up demand, Bloomberg Economics analysis shows
• Friday’s U.S. jobs report will highlight this week’s global economy agenda

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