Reopening U.S., Decade of Job Losses, Is it Enough?: Eco Day

(Bloomberg) -- Welcome to Friday Asia. Here’s the latest news and analysis from Bloomberg Economics to help get you through to the weekend:

• President Donald Trump unveiled guidelines on reopening the U.S. economy that could allow states and employers to abandon within four weeks most social distancing practices
• More than 5 million Americans filed for unemployment benefits last week, effectively erasing a decade worth of job creation. Meanwhile, the scramble is on to get aid to millions of self-employed
• Stimulus plans totaling trillions of dollars have been crafted to prop up businesses and support unemployed workers. Bloomberg’s Tom Orlik and Eddie Spence ask the question: Is it enough?
• Thailand’s 1 trillion baht ($30.6 billion) borrowing program could spur central bank steps to keep a lid on bond yields
• Federal Reserve officials offered a pessimistic view on the outlook for the U.S. economy, cautioning that a recovery will be slow to take hold once social-distancing measures are rolled back
• Saudi Arabia and Russia signaled they may be open to further output cuts after the latest OPEC+ deal to curb global oil supplies failed to stem crude’s downward spiral
• When historians assess how countries approached the coronavirus pandemic, New Zealand is sure to stand out for its attempts to eradicate the virus
• Croatia, the EU nation most reliant on tourism, hopes to generate at least some income from the summer season. Meanwhile, the U.K. government will extend the lockdown by at least three more weeks
• Covid-19 is about to put the global trading system through its most dramatic stress-test since World War II, with supply lines for essential food and medical goods entering a critical phase

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