Zombie Recovery, $3 Trillion Shot, Negative Rates: Eco Day


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

  • America’s economy faces a zombie recovery, even with the vaccine
  • The latest U.S. stimulus negotiations involve a split of contentious items from a core bill, in a bid to expedite passage before year-end; meanwhile, the U.S. economy is facing a tough winter ahead
  • Even so, positive news on vaccine development is raising hopes for a revival of the global economy. In an optimistic scenario, the shots could provide a lift to world GDP of 3.7% ($3.2 trillion) next year, according to Bloomberg Economics’ analysis
  • At the height of the pandemic, it seemed only a matter of time before negative interest rates ruled global markets. Traders now see sub-zero moves as increasingly unlikely
  • China pulled further ahead of other major economies in November as industrial output and retail sales strengthened, reinforcing expectations of healthy growth in 2021
  • U.K. job cuts jumped to the highest on record in the three months through October, raising more questions over Chancellor of the Exchequer Rishi Sunak’s refusal to extend job support programs until hours before they expired

©2020 Bloomberg L.P.

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