United States:
The Real Cost of U.S. Debt Is Nearer the Floor Than the Ceiling
“U.S. politicians are locked in a huge fight over something that more and more people in the financial world view as irrelevant. Brinkmanship in Washington over whether to raise the debt ceiling or risk a default has become a 21st-century staple. But since the last major standoffs a decade or so ago, there’s been a sea change in the way investors, economists and officials think about public borrowing.”
Europe:
ECB’s Visco Says Price Increases Should Be Only Temporary
“Recent price increases are being driven by commodity inflation and supply-chain snags should prove only temporary, European Central Bank Governing Council member Ignazio Visco said on Saturday. In a speech commemorating economist Marcello De Cecco, Bank of Italy governor Visco said that for now there’s little evidence of higher supply-chain prices being passed through to consumers.”
Asia:
Merck’s Covid Pill Progress Sparks Asian Vaccine Stock Selloff
“Makers of vaccines and other coronavirus treatments dropped in Asia after Merck & Co. said its experimental pill cuts the risk of hospitalization and death from Covid-19 in half. The declines followed a slump in shares of BioNTech SE and Moderna Inc. in New York on Friday after Merck delivered the news on its drug, which is seen by some as marking a turning point in the global fight against Covid-19.”
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