Stimulus-Sanity, China Deal Failure, Europe Double-Dip: Eco Day

Happy Friday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend.

  • On paper, 2021 will look like a blockbuster: Bloomberg Economics forecasts a 4.9% rise in global GDP and a 3.5% gain for the U.S. — the strongest since 2005. But there’s less here than meets the eye
  • China failed to meet its 2020 trade deal targets with the U.S.
  • ECB chief Christine Lagarde signaled that the euro-zone economy is headed for a double-dip recession; meanwhile, officials have asked staff to propose new ways to measure financial conditions
  • China said it hoped Joe Biden would “be successful in governing” and called for unity in a bid to reset relations with the U.S.
  • Bank of Japan Governor Haruhiko Kuroda looked to keep all his options open for a policy review in March
  • Every new sign that U.S. financial markets finally see some inflation in the pipeline is another piece of good news for the Fed
  • Treasury Secretary-designate Janet Yellen said she would work with lawmakers to fast-track a series of tax increases
  • Lucy Meakin and Stephanie Flanders offer a sneak preview of Janet Yellen’s Treasury Department in their weekly Podcast
  • French Finance Minister Bruno Le Maire said he will seek to coordinate European and U.S. fiscal stimulus efforts
  • President Joe Biden’s top economic adviser, Brian Deese, plans to meet with a bipartisan group of lawmakers in coming days in an appeal for the administration’s $1.9 trillion Covid-19 relief plan
  • Norway’s central bank may raise its main interest rate as early as this year as economists found hints in its latest statement
  • Even the world’s most egalitarian region is grappling with a rising gap between rich and poor
  • Goldman Sachs, bearish on the U.S. dollar for months, is getting a measure of satisfaction for sticking by its call
  • From an American judge to a Peruvian soccer-star-turned-politician, here’s a shortlist of names you’ll be seeing more of this year

©2021 Bloomberg L.P.

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