United States:
Markets Tell the Fed It’s Finally Getting an Edge on Inflation
“The $20 trillion U.S. Treasury market is giving the Federal Reserve a thumbs-up for its efforts to revive inflation after the coronavirus pandemic threatened to inflict a damaging bout of deflation on the U.S. economy. The best measure of that is inflation-adjusted interest rates on 10-year Treasury bonds, which have plunged well below zero as nominal yields held fairly steady. Other signs of success include rising expectations for future prices among U.S. households.”
Europe:
Angela Merkel Wants You to Drink More Riesling in New German Wine Push
“Germany has fallen behind European competitors in grabbing its share of growing wine exports and Chancellor Angela Merkel’s government wants to address that by aggressively marketing top products like Riesling. In the first revamp of its marketing strategy in a quarter of a century, Germany will roll out a “pyramid” of protection labels that link wines more closely to specific regions, Agriculture Minister Julia Kloeckner said Wednesday in Berlin. Top wines like Mosel Valley Riesling will sit atop the pyramid, which follows the principle of “the smaller the origin, the higher the quality,” she said.”
Asia:
Bank of Japan Refuses Trader Requests to Work From Home
“The new normal of remote work has yet to reach the traders who deal with the Bank of Japan. Japan’s central bank doesn’t allow home computers to connect to its network for conducting asset purchases and other market transactions, raising concerns at financial firms as coronavirus cases in Tokyo surge. At least three have asked the BOJ whether traders can participate in its operations from outside the office, only to be met with a refusal, people familiar with the matter said.”
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