Europe’s Banks, Italy’s Bonds, U.K. House Prices: Eco Day

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

  • Bloomberg Economics says theglobal economic recovery will likely be weaker, and the blow to incomes more permanent, than most forecasts suggest
  • In Europe, agathering tsunami of distressed credit risks wrecking a decade of efforts aimed at bolstering the fragile financial industry
  • Just looking atItalian bonds, observers would have little clue about the nation’s dire economic situation
  • Federal Reserve lookpoised to discuss the future of its asset-purchase program when they meet again in November, potentially heralding a shift in what they buy, or increasing the amount
  • Federal Reserve officialswere challenged Wednesday to make big policy changes to combat economic and racial inequality
  • A closelywatched gauge of U.K. house-price growth surged to the highest in almost two decades last month amid a post-lockdown property boom
  • Therecovery in U.K. investment and hiring by companies have come to a halt as business leaders fret about Brexit and the resurgence of the coronavirus
  • World Trade Organizationmembers selected two final candidates — Nigeria’s Ngozi Okonjo-Iweala and South Korea’s Yoo Myung-hee– to advance to the final round in the race to lead the trade body
  • Global extremepoverty is expected to increase this year for the first time since the Asian financial crisis more than two decades ago as the pandemic builds on the existing impacts of conflict and climate change, the World Bank said

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