Trade Deal, Lost Decade for Jobs, Lagarde’s Choice: Eco Day


(Bloomberg) -- Welcome to Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to take you through to the weekend:

  • The top trade negotiators for China and the U.S. pledged they will create favorable conditions for the implementation of the bilateral trade deal and cooperate on the economy and public health.
  • Friday’s U.S. jobs report is forecast to show employers slashed 22 million jobs in April, nearly erasing a decade of job gains in a single month
  • European Central Bank President Christine Lagarde said she has no choice but to go beyond conventional policies to combat the coronavirus crisis, in remarks delivered two days after a German court ruled that the institution’s bond-buying program may be illegal
  • Boris Johnson’s government tried to damp expectations that the U.K.’s coronavirus lockdown will be significantly rolled back as top scientists warned the country’s infection rate has crept upward in recent days
  • The IMF said that the global economic outlook has worsened since its latest forecast three weeks ago and the world can expect more waves of financial market turbulence
  • Is it enough? Tom Orlik tracks major economies’ stimulus measures
  • Denmark will open much of its economy Monday after judging the threat posed by Covid-19 is no longer serious enough to keep businesses shuttered
  • Australia’s central bank said household spending is likely to slump about 15% in response to the lockdown to stem the spread of the coronavirus
  • Japanese households cut monthly spending by the most in five years as the coronavirus started to spread more quickly in the weeks before the government called a state of emergency

©2020 Bloomberg L.P.

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