U.S.-China Tension, Treasury Yields, Mexico’s Slump: Eco Day

(Bloomberg) -- Welcome to Thursday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• It’s only a matter of time before the Trump administration hits China over a range of grievances. The question for CEOs, investors and economic policy makers is how bad things will get
• New York Fed President John Williams said policy makers are “thinking very hard” about targeting specific yields on Treasury securities as a way of ensuring borrowing costs stay at rock-bottom levels. The coronavirus deeply damaged the U.S. economy, with “steep” job losses and business closures
  • The May Beige Book confirmed sharp deterioration in the economy and pointed to uncertainty related to the outlook
• Slowly but not surely, the world economy is emerging from its coronavirus-enforced hibernation
  • The global jobs slump caused by the coronavirus pandemic is bottoming out, if data from LinkedIn is a guide
  • Here’s all the ways fear transformed human activity in 2020
• Canada’s status as one of the fastest growing Group-of-Seven economies is coming to an end
  • Canada’s resilient housing market appears to have finally met its match in the Covid-19 pandemic
• Mexico faces what could be its worst contraction in almost a century this year as the crash in oil prices aggravates the slump caused by the coronavirus pandemic, the central bank said
• It’s safer for the Bank of England to ease too much rather than too little as it responds to the coronavirus pandemic, according to policy maker Michael Saunders
• The EU’s ambitious recovery spending plan -- anchored by 750 billion euros ($825 billion) of joint debt issuance -- has started to calm markets and could restore a sense of unity to the bloc
• Finally, don’t miss this week’s episode of the Stephanomics podcast

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