Treasuries Tumble, Senate Standoff, Import Surge: Eco Day

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

  • Long-term Treasury rates tumbled to the lowest levels in months as investors dial back risk-taking in expectation of a fresh wave of restrictions on economic activity, and some traders are likely to begin looking toward 1%
    • Market pricing for where U.S. rates are expected to be in five-years time is now back at where it was in late January
  • Speaker Nancy Pelosi must decide whether the House should draft its own tax and spending plan with the Senate in a standoff over the $3.5 trillion budget blueprint
  • Robust demand for imported goods will likely be sustained into 2022 as companies struggle to rebuild stockpiles, according to Griff Lynch, executive director of the Georgia Ports Authority
  • No one disputes that inflation has arrived -- the question is where it’s heading, writes Bloomberg Opinion’s John Authers, who breaks down the indicators behind the headline figures
  • Singapore will unveil a virus support package in the coming days after authorities moved to suspend dining-in and limit group gatherings to two people amid a record daily number of Covid-19 infections
  • Japan’s trade surplus likely narrowed in June as a higher energy bill boosted import costs, according to Bloomberg Economics
  • The pace of Britain’s economic recovery appears to be waning with high-frequency data showing that gains in certain indicators are beginning to slow, according to Bloomberg Economics
    • The U.K.’s decision to require vaccine certificates for entry into large crowded venues from September could put thousands of jobs at risk, say hospitality businesses

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