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Welcome to Friday, Europe. Here's the latest news and analysis from Bloomberg Economics to help you start the day:
- Mario Draghi's possible shift to become Italy's president risks reminding investors how the country is never far away from political instability
- Czechs piled into government inflation bonds, evidence of growing concern that consumer price rises will get out of control
- U.S. nonfarm payroll data Friday are set to show a solid pickup in December hiring and a decline in the unemployment rate, according to Bloomberg Economics
- Initial jobless claims in the U.S. rose last week, though they remained near historic lows as the labor market withstood the recent Covid-19 surge
- The Fed could start to raise its target interest rate as soon as March and shrink the balance sheet as a next step, Federal Reserve Bank of St. Louis President James Bullard said
- Federal Reserve Vice Chair Richard Clarida sold at least $1 million of shares in a U.S. stock fund in February 2020 before buying a similar amount of the same fund a few days later on the eve of a major central bank announcement, according to an amended financial disclosure
- A record 48% of U.S. small-business owners said they raised compensation in December and nearly a third said they plan to do so in coming months
- China's central bank is expected to frontload monetary-policy easing this year as fresh virus outbreaks and lockdowns add to economic headwinds
- Argentina raised its benchmark interest rate for the first time in more than a year as it faces calls from the International Monetary Fund to tighten monetary policy
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