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Powell Going Hot, World Economy’s Big Week, Debt Binge: Eco Day

Powell Going Hot, World Economy’s Big Week, Debt Binge: Eco Day

(Bloomberg) -- Welcome to Monday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

  • Fed chief Jerome Powell probably will kick off Wednesday’s post-meeting press conference the same way he’s begun every one this year. The Fed, he’ll say, has “one over-arching goal: to sustain the economic expansion.” Behind that anodyne mission statement lies a grand ambition: taking growth to the very edges of the workforce
  • In general, there will be no chance of a summer break for investors or policy makers in coming days as they brace for what might be the busiest week for the world economy this year
  • The Treasury Department is set to hold its quarterly note and bond sales at record levels for the third straight time as Washington’s latest budget deal shows that the U.S.’s debt binge will continue
  • Almost three months after talks broke down, Chinese and American trade negotiators meet again in Shanghai this week amid tempered expectations for breakthroughs
  • As the world sinks into an era of ever-lower interest rates and a chasm of negative-yielding bonds, Japan’s experience offers investors an invaluable precedent
  • One of the most powerful forces in Swedish business circles, Marcus Wallenberg, says the prospect of even more monetary stimulus in Europe has left him and others feeling less certain about the future
  • Social unrest gripping Hong Kong has affected the city’s economy and businesses, and the unemployment rate is likely to rise from current levels, Financial Secretary Paul Chan said in a blog post
  • Neither the EU nor Britain is ready for a no-deal Brexit, a study of contingency plans by the U.K.’s biggest business lobby group showed
  • India’s economy remained sluggish, with the slowdown becoming more pervasive amid a slump in services and a plunge in exports
  • President Vladimir Putin observed a large naval parade in Russia’s second city of St. Petersburg Sunday, a day after a harsh police crackdown on peaceful protesters in the capital

To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, James Mayger

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