U.S. Bread Lines, Stimulus Access, Canada Labor Market: Eco Day

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

• With more than 10 million people across the U.S. suddenly unemployed, bread lines are forming in the shadows of privileged enclaves
• Who benefits from the hundreds of billions of dollars in U.S. aid and tax breaks, and how does it work?
• Economists agree Canada’s labor market suffered major damage in March, but the range of forecasts varies wildly
• Germany’s finance minister told Italy and Spain to tap existing tools for funding in yet another blow to the prospect of joint euro-area debt. EU leaders are expected to reach a consensus on what measures to mobilize by Tuesday amid amplified calls for economic solidarity
• Japan’s government will deploy a 108 trillion yen ($988 billion) stimulus package to help people and firms hit by the virus, after declaring a state of emergency in seven prefectures. Singapore is also boosting support measures
• Central banks in Africa have joined the global wave of emergency meetings and unusual measures to cushion their economies against the impact of the coronavirus pandemic, with lockdowns halting economic activity in many countries
• India’s service sector has seen the first contraction in five years, IHS Markit figures show
• Japan’s central bank has been a pioneer in the monetary experiments the U.S. is trying now, buying up shares of funds right alongside ordinary investors
• China is about 90-95% back to work, Bloomberg Economics estimates. The analysis excludes Hubei province, the epicenter of the coronavirus outbreak where activity remains sluggish

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