Europe’s Costly Summer, Frank Talks, Swedish Bonds: Eco Day


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

  • Europeans are in for a costly summer that will test central bankers’ resolve on stimulus as the region’s delayed economic recovery unleashes surging demand
  • Under a new gender equality plan drawn up by Mario Draghi’s government, men and women in Italy will finally have the same earnings and employment potential. Unfortunately, it’s going to take 10 years
  • The U.S. and China took another step toward restarting economic and trade talks, with Treasury Secretary Janet Yellen and Vice Premier Liu He holding what they described as frank discussions in their first call
  • Member nations of a Pacific regional trade deal agreed Wednesday to allow the U.K. to begin the process to join, a potential boost for the country’s trade following Brexit
  • The world’s factories are powering forward as many governments ease coronavirus restrictions and economies strengthen
  • Sweden is about to test investor appetite for its longest ever bond, a sale that promises to reveal just how anxious investors are about the threat of inflation and higher interest rates
  • Federal Reserve Governor Lael Brainard said there are risks on both sides of monetary policy right now as the U.S. economy surges ahead in a post-pandemic boom while millions of people remain unemployed
  • The lira fell to record lows against the U.S. dollar after Turkey’s president renewed calls for lower interest rates, making a vague reference to summer months as a target date
  • Financial institutions in Japan must accelerate efforts to prepare for the transition away from Libor, the Bank of Japan’s point man said
  • Canada’s highest-earning families were the biggest beneficiaries of Prime Minister Justin Trudeau’s pandemic aid, opening his government to criticism that its programs were wasteful

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