U.S. Deficits, New Trade Talks, Bank of Canada Decision: Eco Day

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

• America’s budget deficits are often described by economists as a problem. In the markets right now, they look more like a solution
• Trade negotiators led by U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to Beijing next week, the White House said, as both sides work to reach a draft agreement by next month
  • President Donald Trump is unhappy that his pick for Fed chief Jerome Powell has raised interest rates. But he can’t do much about it. That doesn’t mean Trump isn’t trying
• It’s central bank decision day in Canada. Here’s everything you need to know
• The rise of the ultra-picky consumer means global supply chains face additional pressures beyond the current trade-war landscape
• The People’s Bank of China offered $39.8 billion of targeted medium-term loans on Wednesday, a step that funnels money to some lenders while avoiding broad easing
• The U.K. has formally kick-started its search for Mark Carney’s successor as governor of the Bank of England, which becomes available early in 2020
• The Swiss National Bank is walking a tightrope with its trove of foreign equities

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Zoe Schneeweiss

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