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Good morning Americas. Here's the latest news and analysis from Bloomberg Economics to help get your Tuesday started:
- Financial markets have gotten used to the Federal Reserve adjusting its benchmark interest rate in small increments. They might want to be ready for a change
- Mario Draghi nudged the European Central Bank closer to pumping more monetary stimulus into the economy, sending stocks and bonds flying higher as his said that “lingering” risks are strengthening the case for action
- That came on the day that a report showed investor confidence in Germany's economic outlook worsened dramatically in June after the Bundesbank predicted the economy will shrink this quarter
- Meanwhile, German Chancellor Angela Merkel's candidate for the European Commission is running out of time and luck, raising the prospect that she may need to change tack and prioritize the ECB's top job instead
- President Donald Trump's top trade envoy will be in the congressional hot seat for two days this week, giving lawmakers the chance to grill him about the prospects for a deal with China, as well as various punitive measures threatened by his boss
- Economists see a flat-line trajectory for U.K. economic growth, with the Bank of England pausing on interest rates until late 2020, according to a Bloomberg poll
- Norway's central bank is set to raise interest rates again as a boom in oil wealth spending and investments put Scandinavia's richest economy at odds with a global economic cooling
To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net
To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Brian Swint
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