U.K. Pain, Dalio Central-Bank Alert, Ultra-Long Bonds: Eco Day

(Bloomberg) --

Welcome to Thursday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

• Ray Dalio thinks the ability of central banks to reverse an economic downturn is coming to an end. Meanwhile, San Francisco Fed chief Mary Daly says low inflation means the central bank can let a hotter economy draw more people into the labor force
• U.K. Prime Minister Boris Johnson’s power play to get Britain out of the EU could deal another blow to the economy
• Treasury Secretary Steven Mnuchin said issuing ultra-long U.S. bonds is “under very serious consideration.” He also said officials expect Chinese negotiators to visit Washington, but wouldn’t say whether a previously planned September meeting would take place, and added the U.S. doesn’t intend to intervene in the dollar right now
• China’s economy slowed further in August as weak domestic conditions, intensifying tensions with the U.S. and worsening global trade all combined to undermine the outlook
• South Africa’s sixth blueprint in 25 years to boost economic growth and job creation may succeed where the previous ones have failed -- by being less ambitious.
• It’s one of the biggest questions hanging over Hong Kong as protests head into a 13th week: Will investors pull their money out?
• For the first time since President Donald Trump was elected, more Americans say the economy is getting worse than getting better. A goal of Trump’s tariffs is to bring back factory jobs from abroad -- evidence is hard to find that it’s going according to plan
• Two months ahead of a presidential election, Argentina said it will propose an extension of debt maturities held by institutional investors, only postponing the pain, writes Adriana Dupita

To contact the reporter on this story: James Mayger in Beijing at jmayger@bloomberg.net

To contact the editor responsible for this story: Jeffrey Black at jblack25@bloomberg.net

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