Jolted Logistics, Slowing Exports, Powell Gains Ground: Eco Day

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

• The coronavirus has jolted the global logistics system, leaving logistics managers to battle with the pandemic, a labor shortage, and huge demand
• Supply chain snags are also holding back trade momentum, evident from gains in Japanese exports slowing more than expected in August
• Zimbabwe is courting yield-hungry investors, as it debuts a $200 million domestic U.S. dollar bond sale on its stock exchange that trades exclusively in foreign currency
• Egypt looks set to retain the world’s highest real-interest rate on Thursday, readying to cushion itself from the potential impact of the U.S. Federal Reserve’s tapering on emerging markets
• The fight over who should lead the Fed for the next four years has intensified questions about whether the central bank is doing enough to help combat climate change. Meantime, Fed Chairman Jerome Powell picked up a handful of fresh endorsements from U.S. senators this week
• Australian employment tumbled more than expected in August as the delta variant of coronavirus forced lockdowns
• Japan’s vaccine czar Taro Kono is seen winning elections to become the country’s next prime minister. But a survey showed that a new prime minister is unlikely to change fiscal or other policies sufficiently to force the central bank to amend its monetary settings
• When investors started calling early Wednesday morning after China moved to tighten its grip on the world’s biggest gambling hub, the junket operator had just one thing to say: sell
• The biggest set of U.S. tax increases in a generation took a major step forward with approval by the House Ways and Means Committee of $2.1 trillion in new levies mainly on corporations and the wealthy

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With assistance from Bloomberg