U.S. Jobs Report, China-U.S. Pledge, China’s Deficit: Eco Day

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

• Friday’s U.S. jobs report is forecast to show employers slashed about 22 million jobs in April, nearly erasing a decade of job gains in a single month as the country shut down to control the spread of the coronavirus
• U.S. mortgage rates are at record lows, but borrowers hoping to take advantage are running into the toughest loan-approval standards in years. Lenders have put in place higher credit-score and down-payment requirements
• The top trade negotiators for China and the U.S. pledged to create favorable conditions for implementation of the bilateral trade deal and cooperate on the economy and public health
• China’s current account fell into the first deficit in almost two years in the first quarter, as lockdown measures disrupted trade and overseas travel
• The head of Germany’s lower house of parliament and former finance minister, Wolfgang Schaeuble, criticized the ruling by the nation’s constitutional court against the European Central Bank’s bond-buying program, saying it could threaten the euro’s existence
• Almost one million people in Johannesburg, South Africa’s commercial hub, are in need of food aid due to movement restrictions imposed to curb the pandemic, according to its mayor
• Is it enough? Tom Orlik tracks major economies’ stimulus measures

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