U.S. Inequality, Global 2021 Outlook, EU-China Deal: Eco Day
Volunteers from Street Corner Resources stand while protesters, not pictured, shout slogans during the painting of a ‘Black Lives Matter’ mural along Fifth Avenue in front of Trump Tower in New York, U.S., on Thursday, July 9, 2020. (Photographer: Michael Nagle/Bloomberg)

U.S. Inequality, Global 2021 Outlook, EU-China Deal: Eco Day

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

  • In the U.S., people once in the middle class are struggling to secure food, shelter and a decent income. Others are enjoying rising home prices and new models of work
    • Republicans will likely block Democrats’ attempts to have the Senate follow the House in boosting stimulus payments for most Americans to $2,000, even though President Donald Trump backs the bigger checks
  • From the advent of Covid-19 vaccines to a new U.S. administration, there’s reason to believe that 2021 will be the year when the world economy moves firmly onto the road to recovery
  • Mexico will likely approve a bill making the central bank the nation’s dollar buyer of last resort following changes that will ease concerns it could force the institution to take illicit funds, a top senator said
  • The European Union and China indicated they could clinch an agreement within days to open the Chinese market further to foreign investors in what would be a major economic and political victory for both sides
    • Smaller Chinese companies and those in the retail industry are struggling to access credit amid a weak recovery in consumer spending
  • The Brexit deal is too little, too late for U.K.’s car industry
    • A pandemic-induced rush to escape the city is pushing rents in London and the rest of the country in opposite directions at the fastest pace in at least five years

©2020 Bloomberg L.P.

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