Hawks Are New Doves, Global Vaccine Race, U.S. Waiver: Eco Day

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

  • U.S. inflation is unlikely to get out of control despite unprecedented government spending, Fed officials said. Meantime, the biggest uncertainty for investors watching the Fed in coming months may be turnover at the top of the U.S. central bank
  • Analysis by Bloomberg Economics suggests emerging markets may not reach critical vaccination thresholds for years
  • The U.S. will support a proposal to waive intellectual-property protections for Covid-19 vaccines, joining an effort to boost supply
  • Top diplomats from the G-7 singled out China in a number of ways that will irritate the government in Beijing, from alleged human-rights abuses to its actions on Taiwan and incursions in cyber space
  • The Treasury Department warned its fiscal tools to keep the national debt from breaching its limit may fail to last as long as in the past
  • Malaysia will likely keep its key interest rate unchanged Thursday as a surge in Covid infections threatens the economic recovery
  • President Joe Biden’s chief trade negotiator pledged to build off the deal with China reached under Donald Trump
  • As Singapore assesses any potential change to a planned travel bubble with Hong Kong following a spike in virus cases, families on both sides of the South China Sea are waiting with bated breath
  • The U.S. economic reopening has caused some “bumps” as companies scramble to fill open positions, but it’s a good thing if they are forced to raise wages, a senior White House aide said
  • U.S. President Joe Biden’s proposal to set a minimum global corporation tax at 21% is gaining momentum
  • ECB chief economist Philip Lane played down mounting global inflation pressures, saying price gains won’t stage a comeback
  • Almost half of Australian and New Zealand workers are likely to resign from their roles if they aren’t provided with flexibility
  • Brazil lifted its benchmark interest rate by 75 basis points and promised another hike of the same magnitude in June
  • The world faced its worst hunger problem in at least five years in 2020 on the back of the Covid crisis, and the outlook remains grim
  • The Pentagon said it expects a tumbling Chinese rocket to fall out of orbit and re-enter the Earth’s atmosphere on Saturday

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.