Weighing Lockdowns, U.K. Divide, Turkey’s Boycott Call: Eco Day

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

  • The European Central Bank will get much of the evidence it needs this week to justify adding more monetary stimulus as the resurgent coronavirus rampages across the continent.
  • The drastic step that no European politician wanted to take again is back on the agenda: lockdowns
  • Parliamentarians from U.K. Prime Minister Boris Johnson’s own party warned that his pandemic strategy is deepening the divide between the poorer north and wealthier south
  • House of Representatives Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin again failed to close major differences on fresh U.S. stimulus
  • Turkish President Recep Tayyip Erdogan is urging his citizens to boycott French goods over President Emmanuel Macron’s crackdown on radical Islam, but the immediate economic impact is falling on Turkey rather than France
  • China ramped up purchases of American goods in September as its economy strengthened, though it still remains far from the full-year target set out under its Phase One trade deal with the U.S.
  • Major shipping companies are setting records for the largest load of containers as they ride an unprecedented wave of demand for everything from housewares to medicine
  • The EU endorsed Nigeria’s Ngozi Okonjo-Iweala to lead the World Trade Organization as the U.S. backs the only other contender
  • If Britain ends up leaving the EU’s single market without an agreement, it will be due in part to French President Emmanuel Macron’s sensitivity to the fate of his country’s fishermen
  • The tech sector that’s helping to pull South Korea’s economy out of its pandemic slump is largely built on the work of Samsung’s late Lee Kun-hee and his belief that the country could become a global powerhouse in chips, panels and smartphones
  • Canada’s central bank is increasingly buying newly issued government bonds that pay for pandemic spending, stoking controversy over the extent of its budget deficit financing
  • An airplane parking lot in the middle of the Australian desert has never been busier as the world economy struggles to get back on its feet
  • India’s central bank has signaled that letting the rupee strengthen is the least bad option while facing the “Impossible Trinity,” which includes maintaining monetary policy independence and allowing a free flow of capital

©2020 Bloomberg L.P.

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