Reacting to Yields, Target Defense, India’s Hinterlands: Eco Day

Welcome to Monday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the week.

  • After last week’s market turmoil, there’s really just one question on traders’ minds: how central banks will react to the bond yield jump
  • Australia’s central bank signaled it will not shirk from its yield target and quantitative easing programs designed to hold down borrowing costs and keep a lid on the currency
  • If there’s one part of India’s economy that’s been relatively unscathed by Covid-19;s impact it’s the vast rural hinterlands. The country’s biggest fuel retailers are sitting up and taking notice
  • The Central Bank of Myanmar is limiting cash withdrawals from banks and ATMs a month after the country’s military coup
  • Chancellor of the Exchequer Rishi Sunak promised he will be “honest” with the British public, signaling potential tax rises ahead to fill the gaping hole in the U.K. finances wrought by the pandemic
  • The National Bank of Poland is skeptical about introducing a digital currency unless similar moves by other central banks bring positive results
  • The first full month of Joe Biden’s presidency of the U.S. looks likely to have featured limited progress for the labor market as the coronavirus kept a lid on growth
  • Wall Street’s most bullish economic forecasts hang on a simple prediction: everybody will flood back soon to their local gyms, bars and yoga studios as if the pandemic was in the past

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