Europe’s Banks, Italy’s Bonds, U.K. House Prices: Eco Day

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

Bloomberg Economics says the global economic recovery will likely be weaker, and the blow to incomes more permanent, than most forecasts suggest
In Europe, a gathering tsunami of distressed credit risks wrecking a decade of efforts aimed at bolstering the fragile financial industry
Just looking at Italian bonds, observers would have little clue about the nation’s dire economic situation
Federal Reserve look poised to discuss the future of its asset-purchase program when they meet again in November, potentially heralding a shift in what they buy, or increasing the amount
Federal Reserve officials were challenged Wednesday to make big policy changes to combat economic and racial inequality
A closely watched gauge of U.K. house-price growth surged to the highest in almost two decades last month amid a post-lockdown property boom
The recovery in U.K. investment and hiring by companies have come to a halt as business leaders fret about Brexit and the resurgence of the coronavirus
World Trade Organization members selected two final candidates — Nigeria’s Ngozi Okonjo-Iweala and South Korea’s Yoo Myung-hee– to advance to the final round in the race to lead the trade body
Global extreme poverty is expected to increase this year for the first time since the Asian financial crisis more than two decades ago as the pandemic builds on the existing impacts of conflict and climate change, the World Bank said