Main Street Lending, China’s Warning, Argentina Default: Eco Day

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

• Boston Fed chief Eric Rosengren said he expects companies to begin receiving money through the central bank’s long-awaited Main Street Lending Program within two weeks
• The U.S. jobless rate may still be in double digits when President Donald Trump stands for re-election in November, a top White House adviser said

• The U.S. should give up its “wishful thinking” of changing China, Foreign Minister Wang Yi said, warning that some in America were pushing relations to a “new Cold War”

  • China also condemned the U.S. adding 33 Chinese entities to a trade blacklist, a move that risks potential retaliation from Beijing
• Argentina will improve the terms of its offer to restructure $65 billion of overseas bonds after sinking into default when it failed to make an interest payment
  • Here’s a look back at each of the country’s nine defaults
• As sections of the global economy tip-toe toward reopening, it’s becoming clearer that a full recovery from the worst slump since the 1930s will be impossible until a vaccine or treatment is found
• Germany’s business confidence index shows companies are counting on an improvement in the second half of the year
• Europe’s leaders may be united on the need to throw money at economies during the coronavirus crisis, but they have yet to confront how to pay for it all
• The Bank of Israel is preparing to cede center stage to fiscal policy after leading the country’s response to the coronavirus pandemic
• Russia faces years of economic stagnation as demand for its carbon-heavy exports gradually drops
• Finally, here’s our preview of what to watch this week

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