Links 5 May 2020

Global Markets / Macro / Investing:

• Half world’s workers may see livelihood destroyed – BBC
• Dow futures fall more than 300 points amid concerns over reopening the economy – CNBC
• El-Erian: Worst recession since Great Depression ahead, 2009 will look like a flesh wound – Yahoo
• Fears Mount About Inflation Returning With a Vengeance – Bloomberg
• Tighter scrutiny of derivatives clearers proposed amid standoff with banks – Reuters
• Why Doesn’t Flu Tank Economy Like Covid-19? – WSJ
• The Short-term Liquidity Line: A New IMF Tool to Help in the Crisis – IMF
• Global Oil Demand Starts a Long, Painful and Uncertain Recovery – Bloomberg
• Coronavirus downturn likely to add to high government debt in some countries – PEW Research

Americas:

• White House economic adviser warns “it’s going to be a bad summer” – News Week
• U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Recession – Yahoo
• Coronavirus pandemic has triggered a wave of bankruptcies in corporate America – Economo
• Millions of lost jobs may push unemployment rate to highest since Great Depression – MarketWatch
• US stock futures fall as uncertainty around the economy persists – CNN
• US Manufacturing Crisis: Fastest Economic Deterioration Ever Recorded – Crypto Price

Europe:

• The coming battle for the COVID-19 narrative – Vox EU
• ECB to Lend to Europe’s Banks at a Negative Interest Rate – Fool
• Spain estimates that its budget deficit will exceed 10% of GDP – Economo
• Millions of European workers are on paid leave, which is expensive for the governments – Economo
• European Slump Is Worst Since World War II, Reports Show – NY Times
• Spanish economy falls 5.2% in first quarter, the biggest drop in nearly a century – Elpais

Asia:

• Global Brands Need China’s Consumers to Spend. They Might Have to Wait. – WSJ
• China’s state-owned giants say farewell to Hong Kong listings: Beijing’s push for strong national champions steers move away from the market. – Nikkei
• India: how coronavirus sparked a wave of innovation – The Conversation
• High-risk countries approach China for debt relief – Dawn
• In China, millions of students brace for joblessness: The government is anxious, too. – Economist
• India’s March infrastructure output contracts as lockdown hits production – Reuters

Trans-Tasman:

• ABC loses $793m funding since 2014 when Coalition made its first cuts – The Guardian
• Jacinda Ardern will join the National Cabinet meeting on Tuesday – The Age
• NSW and Queensland coal industry uses as much water as all Sydney households, report finds – The Guardian
• Most Australians want government, not business, to lead post-pandemic recovery, survey finds – The Guardian
• What has coronavirus done to the millennial version of the great Australian dream? – ABC
• Private health cancer patients stung more than those without: Report – New Daily
• Medicare data-matching to catch private hospitals flouting bans – The SMH
• ‘More important than ever’: Victoria backs China’s infrastructure push – The SMH
• Are Australia’s big four banks equipped for recession? – ABC
• Advertisement