Germany's Austerity Mindset, U.S. Jobs, Trade War Games: Eco Day

(Bloomberg) --

Happy Friday Europe. Here’s the latest news and analysis from Bloomberg Economics to help get your day started and send you into the weekend:

• Europe aims to keep a grip on the International Monetary Fund’s top post as Christine Lagarde prepares to step down; in other personnel news, Corbynomics is stalking the race for Britain’s next prime minister
• Austerity mode. It costs little, if any, for the German government to borrow, so it’s a bit of a worry that they are keeping purse strings so tight
• Blockbuster data. The most-anticipated economic report of the week, on U.S. jobs, could definitively nudge the Federal Reserve to an interest-rate cut at the end of the month; here’s what economists are saying ahead of the release
• Trade wars. China continues to demand that the U.S. lift all tariffs; meanwhile, Vietnam is trying to satisfy the U.S. through a renewed trans-shipment crackdown and greater caution around currency intervention
• Inequality widens. The International Labour Organization says only 10% of workers are earning nearly half of all global pay. The lowest 20% earn less than 1% of total labor income
• What a week. All the match-ups in the global trade fight club, plus how the central banks are managing the headwinds and personnel changes in top economic posts feature in our wrap of the week

To contact the reporter on this story: Michelle Jamrisko in Singapore at mjamrisko@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Jiyeun Lee

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