Congress Deal, Dover Shuts on Virus, Dollar Pressure: Eco Day

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

  • Britain’s biggest portstopped all traffic heading to Europe, triggering delays to food supplies after the discovery of a new variant of the virus led some countries toban travel from the U.K. Meanwhile, the emergency lockdown isheaping last-minute pressure on negotiators as they race to reach a post-Brexit trade deal
  • Congressional leadersreached a deal on a roughly $900 billion spending package to bolster the U.S. economy amid the continued coronavirus pandemic. Another $900 billion of fiscal support would “absolutely”make a significant difference to the U.S. economy’s ability to endure Covid-19, but “challenging months” lie ahead, a top Fed official said
  • Janet Yellen once touted the benefits of a weaker greenback for exports, but as the incoming Treasury secretary, she faces pressure toreturn the U.S. to a “strong-dollar” policy
  • If you worry about all the waste generated by the annual rush of holiday shopping and gift giving, know that it’s nothing compared to the mountains of discarded packaging froma single event in China
  • Investors positioning for a post-pandemic recovery haveSouth Korean sovereign bonds in their crosshairs. Meanwhile, early trade data showed Korean exportscontinuing to rise in December, a positive indicator for Asian trade
  • Sydney’s 5 million residents are being encouraged toforgo end-of-year celebrations and anything else that might fan a coronavirus outbreak that’s closed state borders. Meantime, Thailand reported a record number of new cases andlocked down a seaside province
  • A compromise during pandemic relief talks over restrictions on the Feddoesn’t resolve differences on its emergency lending authority
  • Migrants are struggling over housing in Shenzhen, China’sanswer to Silicon Valley

— With assistance by James Mayger

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