Links 10 June 2020

Global Macro / Markets / Investing:

• S&P 500 erases losses; positive for 2020 – CNBC
• I’m ‘uncomfortable’ betting on continued ‘huge recovery’ in the stock market – CNBC
• World Bank: COVID-19 to contract global economy by 5.2% this year – Yahoo
• What 2008 recession can teach us about this one – BBC
• Crash in the Dollar Is Coming – Bloomberg
• Deglobalization Will Hurt Growth Everywhere – Project Syndicate
• OPEC, Russia extend record oil cuts to end of July – Reuters

Americas:

• No, the unemployment rate didn’t really drop in May – Brookings
• The US economy is officially in recession – Yahoo
• Consumer Debt Soars To $14.3 Trillion—Now Higher Than 2008 Crisis – Forbes
• The U.S. entered a recession in February, according to the official economic arbiter – CNBC
• Pandemic sparked broadest economic collapse since 1870, World Bank says – The Hill
• ‘I’m squeaking by right now’: voices of America’s unemployment crisis – The Guardian

Europe:

• German Industrial Output Falls Record 17.9% In April – Barrons
• Will COVID-19 boost the euro as a global currency? – Bruegel
• ECB Seeks to Identify Polluters in Push for Green Finance System – Bruegel
• Rising savings of the European consumers are exacerbating economic problems – Economo
• Christine Lagarde’s courage will not be enough for the Eurozone – Economo

Asia:

• China suspends debt repayments for 77 developing countries and regions – Business Inquirer
• Huawei wanted to be No. 1 in smartphones by 2020. Trump may have ended that dream – CNBC
• Japan braces for worst postwar economic slump, pandemic tests policy response – Reuters
• How Getting Rid of Dustbins Helped Taiwan Clean Up Its Cities – BBC
• China to Strengthen Global Cooperation in COVID-19 Vaccine Trials – Reuters
• Trump plans to sign bill pressuring China over Uighur Muslim crackdown – Reuters

Trans-Tasman:

• This is not a recession Australia had to have – Independent Australia
• ‘Default setting stuck on destroy’: FMG’s plan to blast 60,000-year-old site – The SMH
• Top super funds increasingly vote down climate resolutions – The SMH
• What Australia can learn from Sweden’s move to a cashless society – ABC
• Business Is Booming in the Unemployment Industry – Jacobin Mag
• The pandemic program that’s unexpectedly solving the homelessness crisis – ABC
• Coronavirus has thrown a spotlight on Australia’s manufacturing industry. This is the story of its rise and fall – ABC
• Business confidence lifts again but still very weak – Interest.co.nz
• $75 million burning a hole in property financier’s pocket – Interest.co.nz
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