Japan GDP Better, Yellen Passes Test, ECB-Fed Contrast: Eco Day

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

  • Japan’s economy shrank last quarter less than first reported, according to figures that come as yet another round of restrictions to contain the coronavirus threatens to prolong the slump
  • Janet Yellen proved her bona fides as a political deal-maker by leading the world’s richest economies to a deal on global taxes
  • When the ECB unveils the results of its grand strategy review, there will be at least one stark contrast with the Fed’s exercise. Inequality in the labor market looks likely to get much more subdued treatment
  • Japan’s colonial rule over the Korean Peninsula ended more than seven decades ago, yet that legacy still roils everyday interactions
  • Some investors are cheering the Bank of Japan’s withdrawal from the stock market, even as they brace for more volatility
  • The number of low-income households in Hong Kong has almost doubled over the past two years
  • The EU is ready to consider tougher retaliatory measures if the U.K. government fails to implement its post-Brexit obligations
  • U.K. consumers opened their wallets in May as the economy continued to emerge from coronavirus restrictions
  • A quarter of a century after declaring the death of inflation, Roger Bootle is seeing signs of its rebirth

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