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href="https://web.archive.org/web/20210813210936/https://www.bloomberg.com/professional/contact-menu/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-PROF-DEMO-bbgmenu" data-element="tophat-link" data-description="Bloomberg Terminal Demo Request" data-label="bcom">Bloomberg Terminal Demo Request</a><a class="bb-that-header__link" href="https://web.archive.org/web/20210813210936/https://bba.bloomberg.net/?utm_source=bloomberg-menu&utm_medium=bcom" data-element="tophat-link" data-description="Bloomberg Anywhere Remote Login" data-label="bcom"><span>Bloomberg Anywhere Remote Login</span><span>Bloomberg Anywhere Login</span></a><a class="bb-that-header__link" href="https://web.archive.org/web/20210813210936/https://www.bloomberg.com/professional/support/?utm_source=bloomberg-menu&utm_medium=bcom" data-element="tophat-link" data-description="Bloomberg Customer Support" data-label="bcom"><span>Bloomberg Customer Support</span><span>Customer Support</span></a> </div> <div id="bb-that--container" class="bb-that__sitemap bb-that--container" tabindex="-1" role="dialog"> <ul class="bb-that__sitemap-sections bb-that--visible-md bb-that--visible-lg"></ul> <ul class="bb-that__sitemap-sections bb-that--visible-sm"></ul> <button class="bb-that__close" aria-label="Close" tabindex="0"></button> </div> </nav> </div> <div id="that-jump-content--default" tabindex="-1"></div> <script>(function(){var md=" <li class=\"bb-that__col bb-that__col--md\"> <section class=\"bb-that-category\"> <h3 id=\"that-list--bloomberg--1\" class=\"bb-that-category__title\">Bloomberg</h3><div class=\"bb-that-category__content\"><p class=\"bb-that-category__text\">Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.</p></div></section> <section class=\"bb-that-category\"> <h3 id=\"that-list--for_customers--2\" class=\"bb-that-category__title\">For Customers</h3><ul class=\"bb-that-category__content\" aria-labelledby=\"that-list--for_customers--2\"><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://bba.bloomberg.net/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Anywhere Remote Login\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Anywhere Remote Login</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/downloads/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Software Updates\" data-label=\"bcom\" tabindex=\"0\">Software Updates</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://service.bloomberg.com/portal/sessions/new?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Manage Products and Account Information\" data-label=\"bcom\" tabindex=\"0\">Manage Products and Account Information</a></li></ul></section> <section class=\"bb-that-category\"> <h3 id=\"that-list--support--3\" class=\"bb-that-category__title\">Support</h3><div class=\"bb-that-category__content\"><p class=\"bb-that-category__text\"><span>Americas</span>+1 212 318 2000</p><p class=\"bb-that-category__text\"><span>EMEA</span>+44 20 7330 7500</p><p class=\"bb-that-category__text\"><span>Asia Pacific</span>+65 6212 1000</p></div></section> </li> <li class=\"bb-that__col bb-that__col--md\"> <section class=\"bb-that-category\"> <h3 id=\"that-list--company--4\" class=\"bb-that-category__title\">Company</h3><ul class=\"bb-that-category__content\" aria-labelledby=\"that-list--company--4\"><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"About\" data-label=\"bcom\" tabindex=\"0\">About</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/what-we-do/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Careers\" data-label=\"bcom\" tabindex=\"0\">Careers</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/diversity-inclusion/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Diversity and Inclusion\" data-label=\"bcom\" tabindex=\"0\">Diversity and Inclusion</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/innovation/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Innovation\" data-label=\"bcom\" tabindex=\"0\">Innovation</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/philanthropy/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Philanthropy\" data-label=\"bcom\" tabindex=\"0\">Philanthropy</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/sustainability/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Sustainability\" data-label=\"bcom\" tabindex=\"0\">Sustainability</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/london/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg London\" data-label=\"bcom\" tabindex=\"0\">Bloomberg London</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/beta/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Beta\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Beta</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/gei?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Gender-Equality Index\" data-label=\"bcom\" tabindex=\"0\">Gender-Equality Index</a></li></ul></section> <section class=\"bb-that-category\"> <h3 id=\"that-list--communications--5\" class=\"bb-that-category__title\">Communications</h3><ul class=\"bb-that-category__content\" aria-labelledby=\"that-list--communications--5\"><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/announcements/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Press Announcements\" data-label=\"bcom\" tabindex=\"0\">Press Announcements</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/press-contacts/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Press Contacts\" data-label=\"bcom\" tabindex=\"0\">Press Contacts</a></li></ul></section> <section class=\"bb-that-category\"> <h3 id=\"that-list--follow--6\" class=\"bb-that-category__title\">Follow</h3><ul class=\"bb-that-category__content\" aria-labelledby=\"that-list--follow--6\"><li class=\"bb-that-category__item\"><a href=\"https://www.facebook.com/Bloomberglp\" class=\"bb-that-category__social-link bb-that--icon-facebook\" data-element=\"tophat-link\" data-description=\"Facebook\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\">Facebook</a></li><li class=\"bb-that-category__item\"><a href=\"https://twitter.com/bloomberg\" class=\"bb-that-category__social-link bb-that--icon-twitter\" data-element=\"tophat-link\" data-description=\"Twitter\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\">Twitter</a></li><li class=\"bb-that-category__item\"><a href=\"https://www.linkedin.com/company/2494\" class=\"bb-that-category__social-link bb-that--icon-linkedin\" data-element=\"tophat-link\" data-description=\"LinkedIn\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\">LinkedIn</a></li><li class=\"bb-that-category__item\"><a href=\"https://www.instagram.com/bloomberg/\" class=\"bb-that-category__social-link bb-that--icon-instagram\" data-element=\"tophat-link\" data-description=\"Instagram\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\">Instagram</a></li></ul></section> </li> <li class=\"bb-that__col bb-that__col--md\"> <section class=\"bb-that-category\"> <h3 id=\"that-list--products--7\" class=\"bb-that-category__title\">Products</h3><ul class=\"bb-that-category__content\" aria-labelledby=\"that-list--products--7\"><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/solution/bloomberg-terminal/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-PROF-SOLU-TERMINAL-bbgmenu\" data-element=\"tophat-link\" data-description=\"Bloomberg Terminal\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Terminal</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/solution/execution-order-management/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-PROF-SOLU-EXORDMGMT-bbgmenu\" data-element=\"tophat-link\" data-description=\"Execution and Order Management\" data-label=\"bcom\" tabindex=\"0\">Execution and Order Management</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/solution/data-and-content/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-PROF-SOLU-DATACONT-bbgmenu\" data-element=\"tophat-link\" data-description=\"Content and Data\" data-label=\"bcom\" tabindex=\"0\">Content and Data</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/solution/financial-data-management/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-PROF-SOLU-FINDATA-bbgmenu\" data-element=\"tophat-link\" data-description=\"Financial Data Management\" data-label=\"bcom\" tabindex=\"0\">Financial Data Management</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/solution/integration-and-distribution/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-PROF-SOLU-INTEGDIST-bbgmenu\" data-element=\"tophat-link\" data-description=\"Integration and Distribution\" data-label=\"bcom\" tabindex=\"0\">Integration and Distribution</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/solution/tradebook/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-PROF-SOLU-TBOOK-bbgmenu\" data-element=\"tophat-link\" data-description=\"Bloomberg Tradebook\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Tradebook</a></li></ul></section> <section class=\"bb-that-category\"> <h3 id=\"that-list--industry_products--8\" class=\"bb-that-category__title\">Industry Products</h3><ul class=\"bb-that-category__content\" aria-labelledby=\"that-list--industry_products--8\"><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://pro.bloomberglaw.com/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Law\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Law</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://pro.bloombergtax.com/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Tax\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Tax</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://about.bgov.com/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Government\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Government</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://about.bnef.com/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"BloombergNEF\" data-label=\"bcom\" tabindex=\"0\">BloombergNEF</a></li></ul></section> </li> <li class=\"bb-that__col bb-that__col--md\"> <section class=\"bb-that-category\"> <h3 id=\"that-list--media--9\" class=\"bb-that-category__title\">Media</h3><ul class=\"bb-that-category__content\" aria-labelledby=\"that-list--media--9\"><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/markets/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Markets\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Markets</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/technology/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Technology\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Technology</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/pursuits/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Pursuits\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Pursuits</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/politics/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Politics\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Politics</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/opinion/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Opinion\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Opinion</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/businessweek/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Businessweek\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Businessweek</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberglive.com/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Live Conferences\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Live Conferences</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloombergapps.com/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Apps\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Apps</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloombergradio.com/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Radio\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Radio</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/live?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Television\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Television</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/news-bureaus/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"News Bureaus\" data-label=\"bcom\" tabindex=\"0\">News Bureaus</a></li></ul></section> <section class=\"bb-that-category\"> <h3 id=\"that-list--media_services--10\" class=\"bb-that-category__title\">Media Services</h3><ul class=\"bb-that-category__content\" aria-labelledby=\"that-list--media_services--10\"><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/distribution?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Media Distribution\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Media Distribution</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloombergmedia.com/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Advertising\" data-label=\"bcom\" tabindex=\"0\">Advertising</a></li></ul></section> </li> ";var sm=" <li class=\"bb-that__col bb-that__col--sm\"> <section class=\"bb-that-category\"> <h3 id=\"that-list--company--11\" class=\"bb-that-category__title\">Company</h3><ul class=\"bb-that-category__content\" aria-labelledby=\"that-list--company--11\"><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"About\" data-label=\"bcom\" tabindex=\"0\">About</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/what-we-do/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Careers\" data-label=\"bcom\" tabindex=\"0\">Careers</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/diversity-inclusion/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Diversity and Inclusion\" data-label=\"bcom\" tabindex=\"0\">Diversity and Inclusion</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/innovation/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Innovation\" data-label=\"bcom\" tabindex=\"0\">Innovation</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/philanthropy/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Philanthropy\" data-label=\"bcom\" tabindex=\"0\">Philanthropy</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/sustainability/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Sustainability\" data-label=\"bcom\" tabindex=\"0\">Sustainability</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/london/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg London\" data-label=\"bcom\" tabindex=\"0\">Bloomberg London</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/beta/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Beta\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Beta</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/gei?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Gender-Equality Index\" data-label=\"bcom\" tabindex=\"0\">Gender-Equality Index</a></li></ul></section> <section class=\"bb-that-category\"> <h3 id=\"that-list--communications--12\" class=\"bb-that-category__title\">Communications</h3><ul class=\"bb-that-category__content\" aria-labelledby=\"that-list--communications--12\"><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/announcements/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Press Announcements\" data-label=\"bcom\" tabindex=\"0\">Press Announcements</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/press-contacts/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Press Contacts\" data-label=\"bcom\" tabindex=\"0\">Press Contacts</a></li></ul></section> <section class=\"bb-that-category\"> <h3 id=\"that-list--follow--13\" class=\"bb-that-category__title\">Follow</h3><ul class=\"bb-that-category__content\" aria-labelledby=\"that-list--follow--13\"><li class=\"bb-that-category__item\"><a href=\"https://www.facebook.com/Bloomberglp\" class=\"bb-that-category__social-link bb-that--icon-facebook\" data-element=\"tophat-link\" data-description=\"Facebook\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\">Facebook</a></li><li class=\"bb-that-category__item\"><a href=\"https://twitter.com/bloomberg\" class=\"bb-that-category__social-link bb-that--icon-twitter\" data-element=\"tophat-link\" data-description=\"Twitter\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\">Twitter</a></li><li class=\"bb-that-category__item\"><a href=\"https://www.linkedin.com/company/2494\" class=\"bb-that-category__social-link bb-that--icon-linkedin\" data-element=\"tophat-link\" data-description=\"LinkedIn\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\">LinkedIn</a></li><li class=\"bb-that-category__item\"><a href=\"https://www.instagram.com/bloomberg/\" class=\"bb-that-category__social-link bb-that--icon-instagram\" data-element=\"tophat-link\" data-description=\"Instagram\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\">Instagram</a></li></ul></section> </li> <li class=\"bb-that__col bb-that__col--sm\"> <section class=\"bb-that-category\"> <h3 id=\"that-list--products--14\" class=\"bb-that-category__title\">Products</h3><ul class=\"bb-that-category__content\" aria-labelledby=\"that-list--products--14\"><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/solution/bloomberg-terminal/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-PROF-SOLU-TERMINAL-bbgmenu\" data-element=\"tophat-link\" data-description=\"Bloomberg Terminal\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Terminal</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/solution/execution-order-management/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-PROF-SOLU-EXORDMGMT-bbgmenu\" data-element=\"tophat-link\" data-description=\"Execution and[br] Order Management\" data-label=\"bcom\" tabindex=\"0\">Execution and<br> Order Management</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/solution/data-and-content/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-PROF-SOLU-DATACONT-bbgmenu\" data-element=\"tophat-link\" data-description=\"Content and Data\" data-label=\"bcom\" tabindex=\"0\">Content and Data</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/solution/financial-data-management/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-PROF-SOLU-FINDATA-bbgmenu\" data-element=\"tophat-link\" data-description=\"Financial Data[br] Management\" data-label=\"bcom\" tabindex=\"0\">Financial Data<br> Management</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/solution/integration-and-distribution/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-PROF-SOLU-INTEGDIST-bbgmenu\" data-element=\"tophat-link\" data-description=\"Integration and[br] Distribution\" data-label=\"bcom\" tabindex=\"0\">Integration and<br> Distribution</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/solution/tradebook/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-PROF-SOLU-TBOOK-bbgmenu\" data-element=\"tophat-link\" data-description=\"Bloomberg[br] Tradebook\" data-label=\"bcom\" tabindex=\"0\">Bloomberg<br> Tradebook</a></li></ul></section> <section class=\"bb-that-category\"> <h3 id=\"that-list--industry_products--15\" class=\"bb-that-category__title\">Industry Products</h3><ul class=\"bb-that-category__content\" aria-labelledby=\"that-list--industry_products--15\"><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://pro.bloomberglaw.com/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Law\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Law</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://pro.bloombergtax.com/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Tax\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Tax</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://about.bgov.com/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Government\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Government</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://pro.bloombergenvironment.com/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Environment\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Environment</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://about.bnef.com/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"BloombergNEF\" data-label=\"bcom\" tabindex=\"0\">BloombergNEF</a></li></ul></section> </li> <li class=\"bb-that__col bb-that__col--sm\"> <section class=\"bb-that-category\"> <h3 id=\"that-list--media--16\" class=\"bb-that-category__title\">Media</h3><ul class=\"bb-that-category__content\" aria-labelledby=\"that-list--media--16\"><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/markets/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Markets\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Markets</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/technology/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg[br] Technology\" data-label=\"bcom\" tabindex=\"0\">Bloomberg<br> Technology</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/pursuits/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Pursuits\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Pursuits</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/politics/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Politics\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Politics</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/opinion/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Opinion\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Opinion</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/businessweek/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg[br] Businessweek\" data-label=\"bcom\" tabindex=\"0\">Bloomberg<br> Businessweek</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberglive.com/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Live Conferences\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Live Conferences</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloombergapps.com/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Apps\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Apps</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloombergradio.com/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Radio\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Radio</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/live?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Television\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Television</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/news-bureaus/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"News Bureaus\" data-label=\"bcom\" tabindex=\"0\">News Bureaus</a></li></ul></section> <section class=\"bb-that-category\"> <h3 id=\"that-list--media_services--17\" class=\"bb-that-category__title\">Media Services</h3><ul class=\"bb-that-category__content\" aria-labelledby=\"that-list--media_services--17\"><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/distribution?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Media Distribution\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Media Distribution</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloombergmedia.com/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Advertising\" data-label=\"bcom\" tabindex=\"0\">Advertising</a></li></ul></section> </li> <li class=\"bb-that__col bb-that__col--sm\"> <section class=\"bb-that-category\"> <h3 id=\"that-list--bloomberg--18\" class=\"bb-that-category__title\">Bloomberg</h3><div class=\"bb-that-category__content\"><p class=\"bb-that-category__text\">Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.</p></div></section> <section class=\"bb-that-category\"> <h3 id=\"that-list--for_customers--19\" class=\"bb-that-category__title\">For Customers</h3><ul class=\"bb-that-category__content\" aria-labelledby=\"that-list--for_customers--19\"><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://bba.bloomberg.net/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Anywhere Remote Login\" data-label=\"bcom\" tabindex=\"0\">Bloomberg Anywhere Remote Login</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/downloads/?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Software Updates\" data-label=\"bcom\" tabindex=\"0\">Software Updates</a></li><li class=\"bb-that-category__item\"><a class=\"bb-that-category__link\" href=\"https://service.bloomberg.com/portal/sessions/new?utm_source=bloomberg-menu&utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Manage Contracts and Orders\" data-label=\"bcom\" tabindex=\"0\">Manage Contracts and Orders</a></li></ul></section> <section class=\"bb-that-category\"> <h3 id=\"that-list--support--20\" class=\"bb-that-category__title\">Support</h3><div class=\"bb-that-category__content\"><p class=\"bb-that-category__text\"><span>Americas</span>+1 212 318 2000</p><p class=\"bb-that-category__text\"><span>EMEA</span>+44 20 7330 7500</p><p class=\"bb-that-category__text\"><span>Asia Pacific</span>+65 6212 1000</p></div></section> </li> ";function 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href="/web/20210813210936/https://www.bloomberg.com/markets/economics">Economics</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/deals">Deals</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/oddlots">Odd Lots</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/markets/fixed-income">The FIX | Fixed Income</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/markets/etfs">ETFs</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/fx-center">FX</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/factor-investing">Factor Investing</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/alternative-investments">Alternative Investing</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/markets/markets-magazine">Markets Magazine</a></li> </ul> </section> <section class="navi-submenu__section"> <header class="navi-submenu__header">Watch</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/series/daybreak-americas">Daybreak</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/series/bloomberg-surveillance">Surveillance</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/series/bloomberg-markets">Markets</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/series/whatd-you-miss">What'd You Miss</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/real-yield?sref=E9HdhEsW">Real Yield</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/charting-futures">Charting Futures</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/futures-in-focus">Futures in Focus</a></li> </ul> </section> <section class="navi-submenu__section"> <header class="navi-submenu__header">Follow</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="https://web.archive.org/web/20210813210936/https://twitter.com/markets">Twitter</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="https://web.archive.org/web/20210813210936/https://www.facebook.com/bloombergmarkets/">Facebook</a></li> </ul> </section> </div> <div class="navi-submenu__column"> <section class="navi-submenu__section"> <header class="navi-submenu__header">Data</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/markets/stocks">Stocks</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/markets/currencies">Currencies</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/markets/commodities">Commodities</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/markets/rates-bonds">Rates & Bonds</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/markets/sectors">Sectors</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/markets/economic-calendar">Economic Calendar</a></li> </ul> </section> <section class="navi-submenu__section"> <header class="navi-submenu__header">SUBSCRIBE</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/account/newsletters/markets">Five Things: U.S.</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/account/newsletters/markets-europe">Five Things: Europe</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/account/newsletters/markets-asia">Five Things: Asia</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/account/newsletters/evening-briefing">Evening Briefing</a></li> </ul> </section> <section class="navi-submenu__section"> <header class="navi-submenu__header">Listen</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/podcasts/what_goes_up">What Goes Up</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/podcasts/benchmark">Stephanomics</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/podcasts/odd_lots">Odd Lots</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/podcasts/surveillance">Surveillance</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/podcasts/taking_stock">P&L;</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/podcasts/decrypted1">Trillions</a></li> </ul> </section> </div> <div class="navi-submenu__close-column"> <button class="navi-submenu__close" title="Close" aria-label="Close"></button> </div> </div> </div> <div id="navi-submenu-technology" class="navi-submenu navi-submenu--technology" role="list"> <div class="navi-submenu__content"> <div class="navi-submenu__column"> <section class="navi-submenu__section"> <header class="navi-submenu__header">Read</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/future-of-work">Work Shifting</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/code-wars">Code Wars</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/topics/startups">Startups</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/topics/artificial-intelligence">AI</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/topics/mobile-phones">Mobile</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/topics/5g-network">5G Network</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/topics/big-data">Big Data</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/topics/cloud-computing">Cloud Computing</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/topics/silicon-valley">U.S.</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/topics/global-tech">Global</a></li> </ul> </section> <section class="navi-submenu__section"> <header class="navi-submenu__header">Special Reports</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/features/elon-musk-goals/">The Elon Musk Tracker</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/graphics/2018-tesla-tracker/">Tesla Model 3 Tracker</a></li> </ul> </section> </div> <div class="navi-submenu__column"> <section class="navi-submenu__section"> <header class="navi-submenu__header">Watch</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/series/bloomberg-technology">Bloomberg Technology TV</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/series/studio-1">Studio 1.0</a></li> </ul> </section> <section class="navi-submenu__section"> <header class="navi-submenu__header">Subscribe</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="https://web.archive.org/web/20210813210936/https://www.bloomberg.com/account/newsletters/technology">Fully Charged</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="https://web.archive.org/web/20210813210936/https://www.bloomberg.com/account/newsletters/power-on">Power On</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="https://web.archive.org/web/20210813210936/https://www.bloomberg.com/account/newsletters/game-on">Game On</a></li> </ul> </section> <section class="navi-submenu__section"> <header class="navi-submenu__header">Listen</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/podcasts/decrypted">Decrypted</a></li> </ul> </section> <section class="navi-submenu__section"> <header class="navi-submenu__header">Follow</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="https://web.archive.org/web/20210813210936/https://twitter.com/technology">Twitter</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="https://web.archive.org/web/20210813210936/https://www.facebook.com/BloombergTechnology/">Facebook</a></li> </ul> </section> </div> <div class="navi-submenu__close-column"> <button class="navi-submenu__close" title="Close" aria-label="Close"></button> </div> </div> </div> <div id="navi-submenu-politics" class="navi-submenu navi-submenu--politics" role="list"> <div class="navi-submenu__content"> <div class="navi-submenu__column"> <section class="navi-submenu__section"> <header class="navi-submenu__header">Read</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/election-2020">Election 2020</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/features/trump-daily/#!">Trump Tracker</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/graphics/global-trade-indicators/">Global Trade Tracker</a></li> </ul> </section> <section class="navi-submenu__section"> <header class="navi-submenu__header">Listen</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/podcasts/sound_on">Sound On</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/podcasts/law">Bloomberg Law</a></li> </ul> </section> <section class="navi-submenu__section"> <header class="navi-submenu__header">Watch</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/series/balance-of-power">Balance of Power</a></li> </ul> </section> </div> <div class="navi-submenu__column"> <section class="navi-submenu__section"> <header class="navi-submenu__header">Subscribe</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="https://web.archive.org/web/20210813210936/http://link.mail.bloombergbusiness.com/join/4wm/politics-brief-signup&hash=b9b2681361bede0e1069ca238efb1ec2">Balance of Power</a></li> </ul> </section> <section class="navi-submenu__section"> <header class="navi-submenu__header">Follow</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="https://web.archive.org/web/20210813210936/https://twitter.com/bpolitics">Twitter</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="https://web.archive.org/web/20210813210936/https://www.facebook.com/BloombergPolitics/">Facebook</a></li> </ul> </section> </div> <div class="navi-submenu__close-column"> <button class="navi-submenu__close" title="Close" aria-label="Close"></button> </div> </div> </div> <div id="navi-submenu-wealth" class="navi-submenu navi-submenu--wealth" role="list"> <div class="navi-submenu__content"> <div class="navi-submenu__column"> <section class="navi-submenu__section"> <header class="navi-submenu__header">Read</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/wealth/investing">Investing</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/wealth/living">Living</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/wealth/opinion-and-advice">Opinion & Advice</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/wealth/savings-and-retirement">Savings & Retirement</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/wealth/taxes">Taxes</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/wealth/reinvention">Reinvention</a></li> </ul> </section> <section class="navi-submenu__section"> <header class="navi-submenu__header">Watch</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/series/good-money">Good Money</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="https://web.archive.org/web/20210813210936/https://www.bloomberg.com/btv/series/david-rubenstein-wealth-show">The David Rubenstein Wealth Show</a></li> </ul> </section> </div> <div class="navi-submenu__column"> <section class="navi-submenu__section"> <header class="navi-submenu__header">Listen</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="https://web.archive.org/web/20210813210936/https://www.bloomberg.com/the-paycheck">The Paycheck</a></li> </ul> </section> <section class="navi-submenu__section"> <header class="navi-submenu__header">Follow</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="https://web.archive.org/web/20210813210936/https://twitter.com/wealth">Twitter</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="https://web.archive.org/web/20210813210936/http://facebook.com/bloombergbusiness">Facebook</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="https://web.archive.org/web/20210813210936/https://www.instagram.com/bloombergbusiness">Instagram</a></li> </ul> </section> </div> <div class="navi-submenu__close-column"> <button class="navi-submenu__close" title="Close" aria-label="Close"></button> </div> </div> </div> <div id="navi-submenu-pursuits" class="navi-submenu navi-submenu--pursuits" role="list"> <div class="navi-submenu__content"> <div class="navi-submenu__column"> <section class="navi-submenu__section"> <header class="navi-submenu__header">Read</header> <ul class="navi-submenu__list"> <li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/pursuits/travel">Travel</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/pursuits/autos">Autos</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/pursuits/real-estate">Homes</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/pursuits/living">Living</a></li><li class="navi-submenu__item" role="listitem" tabindex="-1"><a tabindex="-1" class="navi-submenu__link" href="/web/20210813210936/https://www.bloomberg.com/pursuits/culture">Culture</a></li><li class="navi-submenu__item" role="listitem" 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Flanders","slug":"ARdopHJe75o/stephanie-flanders","title":"Head:Economics","bio":"Stephanie Flanders is Senior Executive Editor for Economics at Bloomberg and head of Bloomberg Economics. She was Chief Market Strategist for Europe at J P Morgan Asset Management in London (2013-17) and BBC Economics Editor (2008-13). She has also been Senior Advisor to US Treasury Secretary Lawrence H. Summers (1997-2001), editorial-writer for the Financial Times and an economist at the Institute for Fiscal Studies and London Business School. ","columnist":false,"contributor":false,"editorialBoard":false,"headshot":{"id":"327695558","baseUrl":"https://web.archive.org/web/20210813210936/https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iV10g67usd2g/v1/80x80.png","origWidth":160,"origHeight":160,"caption":null,"type":"image","themes":null},"facebookHandle":null,"facebookUrl":null,"twitterHandle":"MyStephanomics","twitterUrl":"https://web.archive.org/web/20210813210936/https://www.twitter.com/MyStephanomics"},{"id":"18700524","name":"Michael Sasso","slug":"AR1Y7K6-pB0/michael-sasso","title":null,"bio":null,"columnist":false,"contributor":false,"editorialBoard":false,"headshot":{"id":"332365482","baseUrl":"https://web.archive.org/web/20210813210936/https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iwumkwlpRfMs/v2/80x80.png","origWidth":464,"origHeight":641,"caption":null,"type":"image","themes":null},"facebookHandle":null,"facebookUrl":null,"twitterHandle":"msasso","twitterUrl":"https://web.archive.org/web/20210813210936/https://www.twitter.com/msasso"}]},"adConfig":{"adCode":"business/news/world/article"},"adCodes":["5262/business/news/world/article"]} </script> <script id="page-level-ad-config-QUU6BUT1UM1101" type="application/json">{"url":"2021-06-17/why-rising-inflation-may-be-here-to-stay-hurting-poor-nations-most-podcast","adCode":"business/news/world/article","targeting":{"suid":"QUU6BUT1UM1101","page":"articlejav","currentResource":"Story|QUU6BUT1UM1101","ni":["ASIA","BUSINESS","ESGRES","FIALL","FIASST","RATESKEY"],"tagr":[],"kwl":["biz_bankofamerica","biz_barclays","biz_cartier","biz_ishares","biz_Samsung","biz_bofasept","biz_googlelist","biz_googlelisttwo","biz_trowe","biz_atrocity","biz_schwab","biz_fidelity","biz_tda","biz_ibm3","biz_microsoft","biz_kornferry","biz_generic","biz_fti","biz_lexus1","biz_brandusa","biz_lexus2","biz_singlecountry","biz_singlecountry2","biz_dun_bradstreet","biz_United","biz_BMW","biz_citi1","biz_apple","biz_mobkoimandslist","biz_boeing","biz_att2","biz_facebook1","biz_facebook2","biz_mulberry","biz_hsbcpb","biz_jpmorgan","biz_morg","biz_morgan1","biz_merrilllynch","biz_mobkoivca","biz_ubsfrance","biz_workdayfow","biz_citi2019","biz_workdayemea19","biz_mobkoirichemont19","biz_workday","biz_kpmg","biz_mobkoif1","biz_sauditourism19","biz_ke_apac","biz_socgenoctnov19","biz_cfa","biz_porsche","biz_mobkoipublisher","biz_mobkoifortnite","biz_wkday","biz_porsche2019","biz_msft2020","biz_JH_APAC_2020","biz_google_helpfulness2020","biz_burberryhk","biz_mobkoicartier","biz_ukdit","biz_coronavirus","biz_porsche2020","biz_kpmgpg","biz_mobkoifacebookpolicyaffairs","biz_comcast","biz_ptarmiganapac2020","biz_mstouts2020","biz_barc1","biz_jpmpg","biz_westpac","biz_signet","biz_gsmarcus","biz_cartier3","biz_diageo","biz_mobkoiaudermars","biz_signet2","biz_mobkoiintel","biz_xaxiscartierhk","biz_sabic2020","biz_socgen2020","biz_mcardnef2020","biz_mobkoiveuve","biz_vbcbreezethmobkoi","biz_vancleef","biz_vancleef1","biz_microsoftnov","biz_mobkoibulgari","biz_microsoftjan2021","biz_vca","biz_mobkoiintel2","biz_mobkoicastrol","biz_ibm2","biz_ford","biz_msci","biz_amazon"],"sites":["bbiz","economics"],"tickers":[],"gs_cat":["gs_covid19","pos_ibm","gt_negative","gs_entertain","gv_safe"]},"disableAds":false}</script> <div class="article-content"> <div class="lede-wrap"> <div class="lede-text-v2 lede"> <div class="lede-text-v2__container"> <div class="lede-text-v2__content"> <div class="eyebrow-v2">Economics</div> <h1 class="lede-text-v2__hed">Why Inflation May Be Here to Stay, Hurting Poor Nations Most</h1> <div class="lede-text-v2__dek"> <p>Wealthy countries are emerging from the pandemic stronger than anyone thought. Rising prices may change that, too. </p> </div> <address class="lede-text-v2__byline">By <div class="author-v2"> <a class="author-v2__byline" href="https://web.archive.org/web/20210813210936/https://www.bloomberg.com/authors/ARdopHJe75o/stephanie-flanders" rel="author">Stephanie Flanders</a> </div> and <div class="author-v2"> <a class="author-v2__byline" href="https://web.archive.org/web/20210813210936/https://www.bloomberg.com/authors/AR1Y7K6-pB0/michael-sasso" rel="author">Michael Sasso</a> </div></address> <div class="lede-text-v2__times"> <time class="article-timestamp" itemprop="datePublished" datetime="2021-06-17T08:02:18.535Z" data-locale="en"> June 17, 2021, 4:02 AM EDT </time> </div> </div> </div> </div> </div> <div class="content-well-v2"> <section class="main-column-v2"> <figure class="lede-small-image-v2 lede figure-expandable"> <div class="image" tabindex="0" role="button" aria-label="Open image in viewer"> <div id="lazy-img-372536688" class="lazy-img "> 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She was Chief Market Strategist for Europe at J P Morgan Asset Management in London (2013-17) and BBC Economics Editor (2008-13). She has also been Senior Advisor to US Treasury Secretary Lawrence H. Summers (1997-2001), editorial-writer for the Financial Times and an economist at the Institute for Fiscal Studies and London Business School. ","columnist":false,"contributor":false,"editorialBoard":false,"headshot":{"id":"327695558","baseUrl":"https:\/\/web.archive.org\/web\/20210813210936\/https:\/\/assets.bwbx.io\/images\/users\/iqjWHBFdfxIU\/iV10g67usd2g\/v1\/80x80.png","origWidth":160,"origHeight":160,"caption":null,"type":"image","themes":null},"facebookHandle":null,"facebookUrl":null,"twitterHandle":"MyStephanomics","twitterUrl":"https:\/\/web.archive.org\/web\/20210813210936\/https:\/\/www.twitter.com\/MyStephanomics"},{"id":"18700524","name":"Michael Sasso","slug":"AR1Y7K6-pB0\/michael-sasso","title":null,"bio":null,"columnist":false,"contributor":false,"editorialBoard":false,"headshot":{"id":"332365482","baseUrl":"https:\/\/web.archive.org\/web\/20210813210936\/https:\/\/assets.bwbx.io\/images\/users\/iqjWHBFdfxIU\/iwumkwlpRfMs\/v2\/80x80.png","origWidth":464,"origHeight":641,"caption":null,"type":"image","themes":null},"facebookHandle":null,"facebookUrl":null,"twitterHandle":"msasso","twitterUrl":"https:\/\/web.archive.org\/web\/20210813210936\/https:\/\/www.twitter.com\/msasso"}],"brand":"business","theme":"default","readings":{"url":"https:\/\/web.archive.org\/web\/20210813210936\/https:\/\/assets.bwbx.io\/s3\/readings\/QUU6BUT1UM111627586385601.mp3","durationMs":85342},"byline":"Stephanie Flanders and Michael Sasso","canonical":"https:\/\/web.archive.org\/web\/20210813210936\/https:\/\/www.bloomberg.com\/news\/articles\/2021-06-17\/why-rising-inflation-may-be-here-to-stay-hurting-poor-nations-most-podcast","headline":"Why Inflation May Be Here to Stay, Hurting Poor Nations Most","summary":"<p>Wealthy countries are emerging from the pandemic stronger than anyone thought. Rising prices may change that, too. <\/p>","twitterHandle":"business","twitterText":"The wealthiest nations are emerging from the pandemic stronger than anyone thought, feeling like they’ve dodged a bullet. Inflation may change that","blensQuoteIds":[{"id":"AAPL:US"}],"shouldShowAuthorBio":false,"shouldShowCommentCount":false,"shouldShowTextToSpeech":true,"shouldShowBrokerBoxAd":true,"shouldShowBlens":true,"fortressEnabled":true}</script> <div data-component-root="ArticleBody"><div class="body-copy-v2"><p><span class="news-designed-for-consumer-media"><a data-web-url="https://itunes.apple.com/us/podcast/bloomberg-benchmark/id1038108799?mt=2" href="https://web.archive.org/web/20210813210936/https://itunes.apple.com/us/podcast/bloomberg-benchmark/id1038108799?mt=2" target="_blank"><strong>Subscribe to </strong><em>Stephanomics </em><strong>on Apple</strong><strong> Podcasts</strong></a><br><strong><a href="https://web.archive.org/web/20210813210936/https://open.spotify.com/show/661R5r3l4vePQohGQjiHeJ?si=RwcM4N2iTyqPh6v0PMsvEg" target="_blank">Subscribe to<em> </em></a></strong><a href="https://web.archive.org/web/20210813210936/https://open.spotify.com/show/661R5r3l4vePQohGQjiHeJ?si=RwcM4N2iTyqPh6v0PMsvEg" target="_blank"><em>Stephanomics</em><strong> on Spotify</strong></a></span></p><p>The wealthiest nations are emerging from the pandemic stronger than anyone thought, nervous about inflation but otherwise feeling they’ve dodged a bullet. That’s not the case for developing countries, with many still overwhelmed by Covid-19 and certainly unable to dole out stimulus checks. </p></div><div class="shimmering-text"><div class="shimmering-paragraph__e14a13ff"><div class="shimmering-line__c5a347e6"></div><div class="shimmering-line__c5a347e6 short__f3bc1907"></div><div class="shimmering-line__c5a347e6"></div><div class="shimmering-line__c5a347e6 short__f3bc1907"></div><div class="shimmering-line__c5a347e6"></div><div class="shimmering-line__c5a347e6 short__f3bc1907"></div></div><div class="shimmering-paragraph__e14a13ff"><div class="shimmering-line__c5a347e6"></div><div class="shimmering-line__c5a347e6 short__f3bc1907"></div><div class="shimmering-line__c5a347e6"></div><div class="shimmering-line__c5a347e6 short__f3bc1907"></div><div class="shimmering-line__c5a347e6"></div><div class="shimmering-line__c5a347e6 short__f3bc1907"></div></div></div><div class="body-copy-v2__clearfix"></div></div><script type="application/json" data-component-props="ArticleBody">{"body":"<div class=\"inline-newsletter-top\"><\/div><p><span class=\"news-designed-for-consumer-media\"><a data-web-url=\"https:\/\/itunes.apple.com\/us\/podcast\/bloomberg-benchmark\/id1038108799?mt=2\" href=\"https:\/\/itunes.apple.com\/us\/podcast\/bloomberg-benchmark\/id1038108799?mt=2\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Subscribe to <\/strong><em>Stephanomics <\/em><strong>on Apple<\/strong><strong> Podcasts<\/strong><\/a><br><strong><a href=\"https:\/\/open.spotify.com\/show\/661R5r3l4vePQohGQjiHeJ?si=RwcM4N2iTyqPh6v0PMsvEg\" target=\"_blank\" rel=\"nofollow noopener\">Subscribe to<em> <\/em><\/a><\/strong><a href=\"https:\/\/open.spotify.com\/show\/661R5r3l4vePQohGQjiHeJ?si=RwcM4N2iTyqPh6v0PMsvEg\" target=\"_blank\" rel=\"nofollow noopener\"><em>Stephanomics<\/em><strong> on Spotify<\/strong><\/a><\/span><\/p><p>The wealthiest nations are emerging from the pandemic stronger than anyone thought, nervous about inflation but otherwise feeling they’ve dodged a bullet. That’s not the case for developing countries, with many still overwhelmed by Covid-19 and certainly unable to dole out stimulus checks. <\/p>\n <div id=\"outstream-video-1-QUU6BUT1UM1101\" class=\"outstream-ad outstream-ad--default paywall\" data-position=\"outstream-video\">\n <script class=\"params\" type=\"application\/json\">{\"contentId\":\"QUU6BUT1UM1101\",\"position\":\"outstream\",\"dimensions\":{\"large_desktop\":[[1,8]],\"small_desktop\":[[1,8]],\"tablet\":[[1,8]]},\"strategy\":\"always\",\"type\":\"Outstream Video Native Ad\",\"targeting\":{\"position\":\"outstream\",\"url\":\"\/news\/articles\/2021-06-17\/why-rising-inflation-may-be-here-to-stay-hurting-poor-nations-most-podcast\"},\"containerId\":\"outstream-video-1-QUU6BUT1UM1101\"}<\/script>\n <\/div>\n \n <div id=\"outstream-video-2-QUU6BUT1UM1101\" class=\"outstream-ad outstream-ad--mobile paywall\" data-position=\"outstream-video\">\n <script class=\"params\" type=\"application\/json\">{\"contentId\":\"QUU6BUT1UM1101\",\"position\":\"outstream\",\"dimensions\":{\"mobile\":[[1,8]]},\"strategy\":\"always\",\"type\":\"Outstream Video Native Ad\",\"targeting\":{\"position\":\"outstream\",\"url\":\"\/news\/articles\/2021-06-17\/why-rising-inflation-may-be-here-to-stay-hurting-poor-nations-most-podcast\"},\"containerId\":\"outstream-video-2-QUU6BUT1UM1101\"}<\/script>\n <\/div>\n <p class=\"paywall\">On this week’s podcast, World Bank Chief Economist Carmen Reinhart tells host Stephanie Flanders why she worries the recent surge in inflation could be around for awhile, hitting the world’s poorest hardest. Next, Rome-based economics reporter Alessandra Migliaccio reveals the surprising reason Italian tomatoes are rotting in the field. And, Sydney-based economics reporter Michael Heath discusses why critics contend Australia, long a melting pot of cultures, has lost its way on immigration.<\/p>\n <div class=\"thirdparty-embed paywall\">\n <div class=\"thirdparty-embed__container\">\n <iframe src=\"https:\/\/player.megaphone.fm\/BLM6707611401\" style=\"border: 0; width: 100%; height: 200px;\" allowfullscreen allow=\"encrypted-media\"><\/iframe>\n <\/div>\n <\/div>\n <div id=\"box-SsJgVbu\" class=\"mobile-box paywall\" data-position=\"mobile-box\" data-ad-placeholder=\"Advertisement\">\n <script class=\"params\" type=\"application\/json\">{\"contentId\":\"QUU6BUT1UM1101\",\"position\":\"box\",\"dimensions\":{\"mobile\":[[300,250],[3,3],[1,1],\"fluid\"]},\"type\":\"Mobile Body Box Ad\",\"positionIncrement\":1,\"targeting\":{\"position\":\"box1\",\"positionIncrement\":1,\"url\":\"\/news\/articles\/2021-06-17\/why-rising-inflation-may-be-here-to-stay-hurting-poor-nations-most-podcast\"},\"containerId\":\"box-SsJgVbu\"}<\/script>\n <\/div>\n <p class=\"paywall\">Rising prices are spooking investors and policymakers as many economies rebound from the pandemic. In the U.S., a broad measure of inflation jumped 5% in May, its biggest annual gain since 2008. Many central bankers argue inflation is a temporary reaction to a rapidly reheating economy, but Reinhart says she isn’t so sure. Covid-19 was a much larger global shock than the 2008 financial crisis, with bank moves to expand the money supply providing a much bigger multiplier effect. Those factors could stoke longer-lasting inflation this time around.<\/p><ol class=\"noscript-footnotes paywall\"><\/ol><div class=\"inline-newsletter-bottom paywall\"><\/div>","teaserBody":"<p><span class=\"news-designed-for-consumer-media\"><a data-web-url=\"https:\/\/itunes.apple.com\/us\/podcast\/bloomberg-benchmark\/id1038108799?mt=2\" href=\"https:\/\/itunes.apple.com\/us\/podcast\/bloomberg-benchmark\/id1038108799?mt=2\" target=\"_blank\"><strong>Subscribe to <\/strong><em>Stephanomics <\/em><strong>on Apple<\/strong><strong> Podcasts<\/strong><\/a><br><strong><a href=\"https:\/\/open.spotify.com\/show\/661R5r3l4vePQohGQjiHeJ?si=RwcM4N2iTyqPh6v0PMsvEg\" target=\"_blank\">Subscribe to<em> <\/em><\/a><\/strong><a href=\"https:\/\/open.spotify.com\/show\/661R5r3l4vePQohGQjiHeJ?si=RwcM4N2iTyqPh6v0PMsvEg\" target=\"_blank\"><em>Stephanomics<\/em><strong> on Spotify<\/strong><\/a><\/span><\/p><p>The wealthiest nations are emerging from the pandemic stronger than anyone thought, nervous about inflation but otherwise feeling they’ve dodged a bullet. That’s not the case for developing countries, with many still overwhelmed by Covid-19 and certainly unable to dole out stimulus checks. <\/p>","marketCards":"","bottomLeftTouts":"\n <div class=\"bottom-left-rail-touts-spacer\"><\/div>\n <aside class=\"bottom-left-rail-touts\">\n <div class=\"secure-tip-tout-v2\">\n <a class=\"secure-tip-tout-v2__link\" href=\"https:\/\/www.bloomberg.com\/tips\/\">Have a confidential tip for our reporters?<\/a><br \/>\n <a class=\"secure-tip-tout-v2__call-to-action\" href=\"https:\/\/www.bloomberg.com\/tips\/\">GET IN TOUCH<\/a>\n <\/div>\n <div class=\"terminal-tout-v2\">\n <div class=\"terminal-tout-v2__text\">Before it's here, it's on the Bloomberg Terminal.<\/div>\n <a href=\"https:\/\/bloom.bg\/dg-ws-core-bcom-a1\" class=\"terminal-tout-v2__link\">LEARN MORE<\/a>\n <\/div>\n <\/aside>\n ","id":"QUU6BUT1UM1101","fortressEnabled":true,"shouldLoadDataDash":false}</script> <div class="stacked-left-rail-portal"></div> <div class="up-next-portal"></div> 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