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Gray China, Inflation Drumbeat, Australia Contraction: Eco Day
Gray China, Inflation Drumbeat, Australia Contraction: Eco Day
23 Jul 2021, 12:59 PM IST
(Bloomberg) -- Welcome to Thursday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
(Bloomberg) -- Welcome to Thursday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- China’s network of gray-market shoppers have been grounded, as travel curbs and a government shift stymied daigou who buy abroad
- The outsize gains in U.S. inflation measures that exceeded forecasts over the last four months have been borne out in recent earnings calls, with many executives highlighting greater pricing power
- With Sydney in lockdown and half Australia’s population under stay-at-home orders, the economy looks set to contract in the third quarter, after a modest expansion in 2Q, writes Bloomberg Economics’ James McIntyre
- Fed Chair Jerome Powell enjoys broad support for his renomination
- U.S. lawmakers likely have until October or November to raise or suspend the debt limit, the Congressional Budget Office indicated
- Treasury Secretary Janet Yellen will have to manage two separate sets of delicate negotiations this fall around a global corporate-tax accord, each with clashing deadlines that could threaten success
- Bank Indonesia will likely keep the policy rate at a record low for a fifth straight meeting. The Southeast Asian nation is struggling with one of the world’s worst outbreaks after the president resisted stricter containment measures in favor of a business-friendly approach
- The ECB starts a potentially heated meeting, with officials needing to decide how their new monetary strategy affects near-term policy
- Spain is set to be one of the fastest-growing developed economies
- Japan and South Korea posted solid export gains again, adding to global trade momentum just as virus variants cloud the outlook
- India’s actual death toll from Covid-19 could range between 1.3 million to a staggering 5 million, with even the most conservative estimate putting its tally at more than double the U.S. level
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