U.K. Wages Jump, German Optimism Drops, Canton Fair: Eco Day

(Bloomberg) -- Good morning Americas. Here’s the latest news and analysis from Bloomberg Economics to help get your Tuesday started:

  • U.K. wages are growing at their fastest pace in almost a decade, but it might take a Brexit breakthrough for that to matter for the Bank of England
    • Meanwhile, Theresa May’s promise to end austerity could cost the U.K. $25 billion, a think tank estimates
  • German investor confidence soured on the back of this month’s stock-market selloff and rising concern that global trade tensions will harm economic growth
  • Trump administration officials are mulling allowing coal exports from military bases and other federal properties along the U.S. West Coast, an idea that drew swift condemnation from political leaders in the region
  • The National Bank of Hungary increased its gold reserves tenfold to improve the safety of its holdings, following a similar move by Poland and relatively high ownership elsewhere in the European Union’s east
  • The Philippine central bank could halt the nation’s most aggressive policy tightening cycle in almost two decades if inflation shows signs of cooling, according to a member of the interest-rate setting Monetary Board
  • Finally, here’s what China’s exporters are saying as they gather in their thousands in Guangzhou for the latest edition of the Canton Fair

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