Money Taboo, Global Guardians Disappoint, Deficit Irony: Eco Day

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

• The coronavirus economy is shredding records for government borrowing and for central-bank lending. Soon it may also smash the taboo that’s supposed to keep those two things apart
• Critics have faulted the G-20 for the set of initiatives its adopted to help emerging and poor nations weather the coronavirus
• A historic shift in Australia’s current account from perennial vulnerability to source of strength may prove to be just enough to save the nation’s top credit rating from a budget blowout
• Fed officials are entering the two-week quiet period during which their staffs prepare them for the upcoming policy meeting. This time around, the routine will be a little different than usual
• The ECB could take further action if needed to support the euro area through the economic crisis
• Just weeks after a surging dollar was causing havoc in world financial markets, President Donald Trump has decided that a muscular U.S. currency is a good thing after all
• New Zealand inflation accelerated in the first quarter, reaching the midpoint of the central bank’s target for the first time in three years, but is projected to slow as the lockdown stalls growth
• The outgoing CEO of Norway’s sovereign wealth fund faces a probe in his home country after accepting a trip that may have strayed from the fund’s compliance rules
• Larry La never even turned the lights off for almost two decades. Now he’s had to shut the whole restaurant down. The world economy’s ability to recover may ultimately depend on how soon businesses can repair supply chains

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