U.S. Leveling Off, Paycheck Protection, USMCA Dinner: Eco Day

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

• Economic activity in the U.S. is showing signs of leveling off amid a resurgence in coronavirus cases, according to Fed President Raphael Bostic
• The ongoing coronavirus pandemic, which has infected nearly 3 million Americans and killed over 130,000, has also caused millions to uproot themselves from their homes
• The coronavirus pandemic is exacerbating wealth and racial inequalities around the world. Nowhere is that more apparent than in San Francisco
  • The OECD said in a report that fallout from coronavirus has exacerbated inequalities and been particularly harsh on low-income earners, women, migrants and young people
• Big-name law firms, religious organizations and companies connected to President Donald Trump and other politicians were among the thousands of loan recipients that too part in the U.S. government’s largest coronavirus relief program, the $669 billion Paycheck Protection Program
• The Covid-19 pandemic and the most severe recession since the 1930s make for extreme conditions for the November elections. To gauge how economic factors may shape voting decisions, Bloomberg Economics has pulled together a dashboard with key metrics for 14 critical swing states.
• A White House dinner that President Donald Trump is hosting Wednesday for his Mexican counterpart will have business executives from both countries on the guest list. Canada’s leader won’t be there
• The recovery for most major advanced economies continues at a rapid pace but few have approached pre-virus levels of activity, and divergence between countries has increased, according to Bloomberg Economics’ daily activity gauges

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