Lagarde’s Year, China Export Surge, Brexit Deal Hurdles: Eco Day

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

• Christine Lagarde’s first full year as ECB president is poised to end with the fanfare of another stimulus expansion
• European Union economic policy makers face a defining moment this week that will either set the course out of the pandemic’s slump or risk delay in providing joined-up support for the region’s recovery
• President Donald Trump and Senate Majority Leader Mitch McConnell will come “on board” with a $908 billion pandemic relief package, according to a member of a bipartisan group that’s seeking legislation before year end
• China’s exports jumped in November by the most since early 2018 as year-end demand surged, pushing the trade surplus to a monthly record
• Brexit negotiations resumed in Brussels amid signs that even as one of the biggest obstacles to a trade deal is on the way to being resolved, another key sticking point remained
• A majority of economists expect the Bank of Japan to extend special funding measures next week as a spike in virus cases adds risk to the economy’s fragile recovery
• The U.S. labor-market rebound slowed markedly in November, indicating the surge in Covid-19 cases is hitting workers and curbing the broader economic recovery
• Australia issued a warning on trade, saying uncertainties from its souring ties with China and the lingering impact of an earlier drought will push down the value of its agriculture exports
• The Bank of Korea is facing mounting pressure to broaden its mandate for the first time in nearly a decade as global central banks are asked to tackle a wider range of economic issues

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