Blog: Brexit Winter, Christmas Risk, Nordic’s Tax-the-Rich: Eco Day – Bloomberg

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

  • Post-Brexit U.K. is emerging from the pandemic without enough workers and facing a winter tougher than any since the 1970s
  • It’s only the beginning of October, but the retail industry is already in various forms of panic that usually don’t take hold until the weeks before Christmas
  • Nordic countries are placing themselves in the vanguard of global economies trying to get rich people to fund public finances
  • The global economy is entering the final quarter of 2021 with a mounting number of headwinds
  • During Europe’s deep Covid recession, millions of jobs were lost, incomes and livelihoods were destroyed and many feared for their financial future. Housing took a different path
  • Federal Reserve Vice Chair Richard Clarida traded between $1 million and $5 million out of a bond fund into stock funds one day before Chair Jerome Powell issued a statement flagging possible policy action as the pandemic worsened
  • House progressives looking for ways to rescue President Joe Biden’s stalled domestic agenda opened the door to scaling back some of the more ambitious social spending by having those programs expire rather than be permanent
  • A closely watched measure of U.S. inflation rose the most on an annual basis in three decades, fueling concerns that price increases will last longer than expected and eventually hit consumer spending
  • Meantime a measure of U.S. manufacturing expanded in September at the fastest pace in four months, bolstered by robust demand for factory goods and burgeoning inventory
  • In his final press conference as finance minister, Taro Aso says he once suggested to Governor Haruhiko Kuroda that the Bank of Japan ought to consider lowering its 2% inflation target
  • Here’s Bloomberg Economics on three central bank meetings — in Australia, New Zealand and India — the most prominent events in Asia slated for the week
  • Turkish inflation is seen accelerating for a fourth month in September, but a gauge that excludes volatile food and energy prices and is now determining central bank interest-rate policy is likely to show gains slowed
  • S&P Global Ratings could upgrade Oman’s sovereign grade for the first time since 2007 after improving its outlook to positive



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