Dalio China Push, Powell and Politics, Senate Stimulus: Eco Day

(Bloomberg) -- Welcome to Tuesday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• Ray Dalio sees the need to have “a significant portion” of its portfolio in Chinese assets for long-term diversification and shorter-term tactical trading. Supporting his view, copper advanced as China’s manufacturing data promised continued demand
• There’s a lot at stake for the Fed in the election even with monetary policy set to remain ultra-loose for years to come, and a U.S. economy that’s recovering, though far from full strength
• The degree of fiscal stimulus after the election depends largely on which party controls the Senate, according to Bloomberg Economics
• President Donald Trump and Democrat Joe Biden capped their bitter race with a blitz of campaigning in states critical to winning
• The WTO’s effort to select a new leader could be delayed for another month because of the rapid spread of Covid-19 in Switzerland
• Malaysia is expected to keep its key interest rate unchanged for a second straight meeting as political instability and a resurgence in virus infections threaten the nascent economic recovery
• New Zealand Finance Minister Grant Robertson says he’s keeping a close eye on an exuberant housing market and plans to meet with the central bank early next week, after the government’s re-election
• U.S. manufacturing grew in October at the fastest pace in more than two years, fueled by the strongest orders growth since early 2004
• The ECB’s exceptionally clear pledge to come up with a new package of monetary stimulus has given markets plenty to think about
• The BOE looks certain to fire another burst of monetary stimulus as new virus lockdowns leave the economy facing another decline
• Twitter said it will flag tweets from certain accounts, including presidential candidates, who claim election victory before it’s called

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