Weekend Reading 9-10 May 2020

Global Macro / Markets / Investing:

• Markets start pricing in negative U.S. interest rates for first time – National Post
• The Bridge to the Post-Pandemic World is Collapsing – The Atlantic
• The Nasdaq just wiped out all of its losses for 2020–a stunning feat in the aftermath of the coronvirus crisis – Market watch
• Inflation Is the Way to Pay Off Coronavirus Debt – Bloomberg
• Why April was Wall Street’s best month in decades – despite dismal mainstreet news – The Conversation
• Should we be scared of the coronavirus debt mountain? – The Guardian

Americas:

• 1 in 5 American workers has filed for unemployment benefits since mid-March – CNN
• Real unemployment rate soars past 24.9%—and the U.S. has now lost 33.5 million jobs – Fortune
• Millions of baby boomers are getting caught in the country’s broken retirement system – Washington Post
• Government Orders Alone Didn’t Close the Economy. They Probably Can’t Reopen It. – NY Times
• Our Broken Unemployment System Is a National Scandal – Vice
• Temporary Coronavirus Layoffs Are Turning Permanent Around U.S. – Bloomberg
• American Meat Workers Are Starting to Quit With Plants Reopening – Bloomberg
• Fed’s Harker warns about reopening the economy too quickly – CNBC

Europe:

• Bank of England warns of deepest recession on record – BBC
• Two months before the cliff – millions of Europeans cannot afford food and lodging after two months without income – Bruegel
• German economist: In the EU, money must flow from rich to poor countries – Economo
• German industrial production collapsed in March – Economo
• The European Union Is Facing Its Worst Recession Ever. – NY Times
• ECB to resist German court order to justify bond purchases – FT
• EU predicts region will contract 7.4% this year in worst economic shock since 1930s – CNBC

Asia:

• China’s Alibaba Launches ‘Outlet’ Platform to Shift Luxury Overstock – Reuters
• China’s New Large Rocket Makes Maiden Flight – Times of India
• Asia coronavirus cases hit 250,000 but pace much slower than U.S., Europe – Reuters
• Internal Chinese Report Warns Beijing Faces Tiananmen-like Global Backlash Over Virus – Reuters
• Hong Kong records its worst-ever economic downturn – Aljazeera
• Kim Jong-un and the brutal North Korea rumour mill – BBC

Trans-Tasman:

• South Australia minister aiming for 100 per cent renewables before 2030 – Renew Economy
• Greens warn Clean Energy Finance Corporation overhaul a ‘Trojan horse for coal and gas’ – The Guardian
• Australian government stops listing major threats to species under environment laws – The Guardian
• Cashless debit card causes stigma and stress, government study suggests – The Guardian
• Job agencies ‘harassing and threatening’ newly unemployed Australians – New Daily
• States so far ahead of Australia government, it’s as if they are in a different industrial era – Renew Economy
• Granny-killer metrics don’t add up in Australia’s costly coronavirus battle – ABC
• Boomers & Millennials: an aftermath of austerity will kill Australians too – Michael West
• Australia’s national cabinet to set timetable to reopen economy in several stages – The Guardian
• Inflation expectations skittled – hit record lows – Interest.co.nz

Other:

• Fiji returns to barter system as Covid-19 hits economy hard – The Guardian