U.S.-China Trade Review, America Deal Relief, Gold Rush: Eco Day

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

• Senior U.S. and Chinese officials are planning to assess the nations’ trade agreement this month against a backdrop of rising tensions between the countries
• Treasury Secretary Steven Mnuchin said the White House and Democrats aim to strike a deal on virus relief legislation by week’s end even though the two sides remain far apart on some key issues
• Spot gold soared to a record above $2,000 an ounce as investors continue to seek a haven for their assets amid daunting economic and geopolitical risks
• Japan’s tally of virus infections is shooting up faster than ever, and support for Prime Minister Shinzo Abe is sinking to new lows
• China’s central bank faces a $500 billion problem this month as it seeks to slow its stimulus to the economy, which looks to be recovering faster than expected from the coronavirus slump
• India’s policy decision is a tricky one to call, with economists split over whether Governor Shaktikanta Daswill lower interest rates again. Meantime, the disconnect between rallying global stocks and deteriorating data is probably the most pronounced in India
• The U.S. economy needs more support than originally thought as a resurgence in the coronavirus pandemic weighs on growth, said San Francisco Fed President Mary Daly
• Australia’s central bank is returning to the government bond market after a three-month hiatus as it aims to re-anchor yields on the three-year security
• Thailand is expected to hold its key interest rate steady Wednesday and preserve its limited ammunition for later
• Once known as the pharmacy to the world, Germany now has the headache of trying to supply enough medicines to its own citizens
• People are grasping onto their daily pleasures, moments of near normality in an otherwise upended world. Cafes in commuter areas and city centers are suffering while workers stay home, but consumers are finding their fix in local neighborhoods

©2020 Bloomberg L.P.