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Yellen Tax Timeline, Recovery Doubts, Home-Price Bubble: Eco Day
Yellen Tax Timeline, Recovery Doubts, Home-Price Bubble: Eco Day
12 Jul 2021, 06:13 PM IST
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Welcome to Monday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- U.S. Treasury Secretary Janet Yellen began to put a timeline on when the Biden administration hopes Congress can take up two key portions of a global tax agreement endorsed by Group of 20 finance ministers in Venice
- She will press European Union officials in Brussels this week to reconsider their plan to propose a digital levy after securing the Group of Twenty’s endorsement for the principles of a global corporate-tax agreement.
- Treasury yields have plunged this month -- taking the rate on the 10-year Treasury note to as low as 1.25%, the lowest since February -- suggesting investors may be having some second thoughts on the U.S. recovery
- Federal Reserve Bank of Richmond President Thomas Barkin said the labor market hasn’t healed enough to taper bond buying
- Fed Vice Chair for Supervision Randal Quarles is calling for an internationally coordinated approach to understanding and monitoring climate-related financial risks
- Even with June’s CPI reading set to signal stubbornly high price pressure in the U.S., Bloomberg Economics’ view is that the transitory inflation thesis will prove correct
- Global finance chiefs gathering at the G-20 are eyeing pockets of virus variants that threaten a fragile global rebound, and central bankers are faced with a dilemma amid booming housing prices
- Argentina’s government prepared two different sets of measures on Saturday aimed at limiting operations in the parallel exchange rate known as the blue-chip swap rate
- As the International Monetary Fund plans for the return of staff to its headquarters buildings in Washington, the world’s financial firefighter is mapping a strategy to allow employees to work part of the week from home beyond the pandemic -- an idea that may reduce its physical-space needs
- China’s weakening V-shaped recovery is slowing, sending a warning to the rest of world about how durable their own recoveries will prove to be
- Finally, here’s what’s to look out for in the world economy this week
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