Weekend Reading: 30-31 May 2020
by Leith van OnselenGlobal Macro / Markets / Investing:
- Markets fall as Trump plans to hold a news conference Friday on China – The Hill
- Plunging solar energy prices spell bright future for clean electricity – DW
- A Universal Basic Income is Essential and Will Work – DW Fed
- Why Main Street is bleeding while Wall Street Soars – NBC
- Beyond GDP: Economics and Happiness – Econ Review
- The effects of COVID-19 on international labor markets: An update – Brookings
Americas:
- Salaries Get Chopped for Many Americans Who Manage to Keep Jobs – Bloomberg
- Millions Of U.S. Jobs Are Never Coming Back From The Covid-19 Recession – Forbes
- Unemployment claims exceed 40 million since the start of the pandemic – NY Times
- Fed finds new challenge for the economy: Workers who don’t want to come back to their jobs – CNBC
- U.S. GDP contracted 5% in first quarter instead of 4.8% – MarketWatch
- NY Fed President Williams says U.S. is not ‘anywhere near’ its limits to run up debt – CNBC
- An ‘Avalanche of Evictions’ Could Be Bearing Down on America’s Renters – NY Times
Europe:
- French jobless total passes record 4.5 million after 22% monthly hike – France 24
- Christine Lagarde: The Еurozone economy will shrink by between 8% and 12% – Economo
- EU unveils plan to borrow 750 billion euros to aid coronavirus recovery – CNBC
- UK MPs call for extra £30bn per year to aid green recovery from Covid-19 – The Guardian
- The ECB is preparing for the worst – a life without the Bundesbank – Economo
- Frozen UK Property Funds Face Existential Crisis – Reuters
Asia:
- How the U.S. Could Really Hurt China – WSJ
- House sends China sanctions bill to Trump’s desk as tensions escalate – CNBC
- South Korea’s central bank cuts policy rate to all-time low – MarketWatch
- Central Asia caught in economic perfect storm amid oil price collapse and COVID-19 pandemic – Times
- China says Trump Administration ‘Bluffing’ in Sanctions Threats for Hong Kong – US News
- Hong Kong looses autonomous status loosing trade advantages – CNBC
Trans-Tasman:
- Rapid shift to renewable energy could lead Australia to cheap power and 100,000 jobs – The Guardian
- Neoliberalism is dashing all hopes of a post-COVID-19 utopia – Independent Australia
- Why electric vehicles could revive Australian manufacturing – New Daily
- Victoria toughens coronavirus work-from-home directives for all of June – ABC
- Are Australians paying for secret US weapons tests at Woomera? – Michael West
- Scott Morrison says National Cabinet here to stay, will replace COAG meetings in wake of coronavirus – ABC
- Australian farmers among the least subsidised in the world: How ‘creeping global protectionism’ is biting – ABC
- APRA given just 24 hours to offer advice on early super access scheme – New Daily
- JobKeeper revamp on agenda as RBA warns ongoing support needed – The SMH
- Several billions of dollars of loans shift to interest only in April – Interest.co.nz
- National proposes paying businesses $10k for every new hire – Interest.co.nz
- Robertson not keen to use the Reserve Bank as his ATM – Interest.co.nz
- ANZ says spending has bounced – but it’s a lacklustre, ‘pretty modest’ bounce – Interest.co.nz
Leith van Onselen
Leith van Onselen is Chief Economist at the MB Fund and MB Super. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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