Household Cash Stash, ECB Slows Buying, 4-Day Work Week: Eco Day

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

  • U.S. households are sitting on their own sort of stimulus -- $1.7 trillion in built-up savings, writes Bloomberg Economics
  • The ECB slowed emergency bond-buying last week, suggesting policy makers mostly relied on verbal interventions to stem rising yields
  • A four-day work week is gaining in popularity without costing productivity, with more companies adding a day to the weekend
  • Bond traders have been saying for years that liquidity is there in the world’s biggest bond market, except when you really need it
  • President Joe Biden urged Democrats to quickly resolve lingering disputes over his $1.9 trillion stimulus plan and pass it
  • Fed Governor Lael Brainard said it will take “some time” to meet the conditions needed for scaling back asset purchases, while noting recent bond market volatility could cause further delay
  • Canada’s economy is showing surprising strength as firms stock up on inventories in anticipation of a super-charged recovery this year
  • A surge of imports into the U.S. economy shows little sign of slowing down, clogging American ports and highlighting ways the pandemic is still causing imbalances in the global recovery
  • European governments must help businesses boost their equity or face a wave of bankruptcies and unemployment that could cost 15 million jobs, according to the IMF
  • Activity picked up all in major economies in February -- and was strong in the U.S., Spain and Israel, Bloomberg Economics says
  • Chancellor of the Exchequer Rishi Sunak’s determination to bring Britain’s public finances under control marks a very different tone from the global consensus for uninhibited crisis spending
  • Here’s a guide to China’s biggest political meeting of 2021
  • There are many reasons why Japan is determined to hold the already-delayed Tokyo Olympics this summer, but one that is seldom discussed publicly: China

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