U.S. Payrolls, German Recession Risk, BOE’s Mystery: Eco Day

(Bloomberg) --

Good morning Americas. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend:

• It’s payrolls day in the U.S., where January figures are projected to show employers added about 165,000 jobs -- less than last year’s average
• Meanwhile, here’s a look at why the Federal Reserve’s worries about liquidity squeezes go beyond money markets
• Germany is facing a possible recession again after industrial production plunged by the most since the global financial crisis
• When Andrew Bailey replaces Mark Carney as Bank of England governor next month, he’ll find officials closely studying why inflation isn’t as strong as data suggest it should be
  • Staying in the U.K., the London economy grew more than twice as quickly as its nearest rival in the second quarter, underscoring the challenge facing Prime Minister Boris Johnson as he seeks to “level up” poorer regions
• The Bank of Russia delivered a sixth consecutive bout of monetary easing and said a further rate cut is possible at one of the next meetings as inflation continues a retreat below target
• Global commodity trade plunged deeper into chaos as Chinese companies started walking away from purchase contracts because of the spread of the deadly coronavirus. For business people, the outbreak is producing a severe case of cognitive dissonance: Their eyes tell them things are bad, but economists say the epidemic will only slightly lower China’s growth this year. Bloomberg Economics offers an annotated chart to track the virus’s spread and early signs of impact
• Here’s why L.A.’s first step in housing the homeless is counting them
• Finally, here’s our collection of this week’s analysis, scoops and enterprise from Bloomberg Economics

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Lucy Meakin

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