Fed’s Jobs Nightmare, Aussie Shopping Spree, Korean Gig: Eco Day

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

  • The Fed will start confronting the case for more stimulus to support the U.S. economy this week. Meantime, Jerome Powell is being compared to giants such as Paul Volcker in the Fed’s pantheon
  • Australia’s retailers are preparing for a late-December spending splurge that could fuel the kind of recovery on the RBA’s wishlist
  • As Covid-19 hit Seoul with full force, mime and circus artist Kim Chan-su started his “two-job” life -- as a courier and a circus clown
  • The topsy turvy trade talks between the U.K. and the EU took another somersault when Boris Johnson and Ursula von der Leyen gave negotiators another shot at closing a deal. The pound jumped
  • The kiwi is looking for a second wind from a rebound in New Zealand’s growth figures as its lead over G-10 peers starts to flag
  • India expects to restart negotiations for a free trade accord with the U.S. once President-elect Joe Biden’s administration takes charge
  • Months after a flurry of demand sparked a surge in shipping, activity at U.S. railways, roads and seaports is showing few signs of slowing
  • Janet Yellen has promised to make fighting climate change a priority as Treasury secretary, spurring hope she will put it at policy’s center
  • Germany will enter a hard lockdown, with non-essential stores shuttered and employers urged to close workplaces
  • The ECB’s increase in emergency bond-buying won broad backing from policy makers only because hawkish officials secured a caveat
  • Tightening the screws on immigration has been a key Trump administration policy. How far the Biden team loosens them will have significant consequences for growth’s trajectory, writes Eliza Winger
  • Iran’s economy grew 1.3% in the six months to mid-September, despite a struggle with the Middle East’s worst Covid-19 outbreak
  • Cuba will end its decades-old dual currency system and have a single unified exchange rate of 24 pesos from January. Meantime, a niche fund that investors use to wager on the opening of Cuba’s economy is emerging as one of the winners from Joe Biden’s election.
  • Abu Dhabi plans to re-open for international tourists by early January as it looks to recover from the pandemic
  • The proposition is about as outlandish as it sounds: Everything we know about modern economics is wrong

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