Fed Taper Timing, Biden’s 1970s Plan, China Winds Back: Eco Day
(Bloomberg) -- Welcome to Tuesday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day.
- The Fed is expected to announce it will begin trimming its $120 billion in monthly asset purchases before the end of the year, according to economists surveyed by Bloomberg
- President Joe Biden is poised to unveil a plan that would raise taxes on the income, investments and estates of the wealthiest Americans to levels not seen in more than four decades
- China’s local authorities have slowed the pace of debt sales to finance infrastructure projects this year, evidence of a gradual tightening of fiscal policy as the government shifts to risk control
- A combination of nailing the virus and rolling out vaccines at one of the fastest rates in Asia saw Singapore top Bloomberg’s Covid Resilience Ranking, dethroning New Zealand for the first time
- The Bank of Japan is expected to keep monetary stimulus unchanged Tuesday with its economic forecasts likely to be the main focus of attention following the declaration of a renewed state of emergency.
- Emerging Asia’s central banks are expected to opt for supporting their economic recoveries rather than tackling volatile price swings
- India’s failure to contain a deadly second wave of the pandemic in time risks disrupting domestic supply chains and carries inflationary implications, according to the central bank’s latest monthly bulletin
- Hong Kong homeowners may sell as much as HK$150 billion ($19.3 billion) of property this year when residents emigrate to the U.K.
- Mario Draghi’s new spending plan should deliver a 3% cyclical boost to the level of GDP, Bloomberg Economics says in this research wrap
- Prime Minister Narendra Modi is rebuilding part of New Delhi, but the mammoth undertaking is drawing fire over its cost at a time when the nation is grappling with a devastating coronavirus outbreak
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