Stimulus Setback, Brexit Trade Chaos, India-China Talks: Eco Day

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

  • Odds of another round of fiscal stimulus for the U.S. economy dropped following a partisan split over a slimmed-down package
  • Brexit just took another turn for the worse. The U.K. and the EU are heading for a chaotic split without a new trade deal as talks between the two sides frayed during crisis meetings Thursday
  • The Indian foreign minister met his Chinese counterpart in Moscow for the first time since deadly tensions erupted in May
  • President Donald Trump threatened to withdraw the U.S. from the WTO, according to a new book
  • Applications for U.S. state unemployment benefits held steady, a sign extensive job losses are persisting. What’s more, funding for the temporary supplemental jobless benefit payments is running out
  • ECB President Christine Lagarde gave no indication of any concern about the outlook for growth or inflation having weakened since July, or of any potential for additional monetary loosening anytime soon. The risk remains that she may have to soften her stance before year-end, write David Powell and Maeva Cousin
  • Well after U.S. economies began reopening this year, Americans continued to stay home
  • The Bank of Canada plans to maintain extraordinary stimulus for as long as needed, Governor Tiff Macklem said
  • Stronger-than-forecast retail and inflation data provided the latest evidence that Brazil’s economy is rebounding fast
  • China’s massive hog farms are expanding rapidly on government incentives and record pork prices, but it could be months before production increases enough to cool the market and curb imports

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