ECB Diversity, PMI Improvement, World Trade Rebound: Eco Day

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

  • The next appointment to the European Central Bank’s Executive Board could turn out to be one of the mostconsequential for diversity in its history — if governments oblige
  • The German government expects the economic fallout from coronavirus to besmaller than expected this year, according to a person familiar with updated forecasts due out today. Meanwhile, Jamie Rush says the long-term effects of the pandemic could still affect Germanya decade on from now
  • Global trade is on course to recovermore quickly from the coronavirus pandemic than after the 2008 financial crisis
  • Closely watchedmanufacturing gauges in Asia show a continued gradual improvement for the region’s manufacturing powerhouses, even as the picture from the rest of the region is more mixed
  • Fed No. 2 Richard Clarida left open the possibility of employing Treasuryyield caps at some point in the future, though he indicated it’s not likely right now
  • Most of England’s 24,000 schools are set to reopen over the next week, acritical moment in getting the country back to work
  • Almost three decades after Italy started privatizing many of its biggest industrial assets, Prime Minister Giuseppe Conte isstrong-arming companies across the country
  • Finland’s Treasury says there aren’t enoughgreen projects in the euro region’s only Nordic member to justify issuing green bonds
  • GMO says it’s time togive up on U.S. Treasuries in a zero-rate world, suggesting investors consider high-yield corporate bonds and EM debt
  • Australia’s central bankkept key policies unchanged Tuesday, while increasing the size of a Term Funding Facility and extending its length to support the economy
  • Dubai made arare foray into public bond markets, revealing along the way that its debt burden is now a lot smaller than estimated by analysts only months ago

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