U.S. Growth View, China Boosts Cash, Trump Vows Tax Cut: Eco Day

(Bloomberg) -- Welcome to Tuesday, Asia. Here’s the latest news from Bloomberg Economics:

• Despite a slump in equities and gains in the dollar, few economists are concerned that broad financial conditions will strangle the second longest U.S. expansion on record
• China announced fresh measures to ease the funding strains of private companies, as top officials seek to restore confidence in the world’s second-largest economy
• President Donald Trump said Congress will vote on a new tax cut for middle-class Americans after the midterm elections, even though Republican lawmakers say they have no such legislation in the works
• Italy’s populist government told the EU that it’s willing to temper its budget for next year, but needs to break deficit rules to help out its poorest citizens
• Indonesia’s central bank may be ready to hit the pause button after five interest-rate hikes and measures to curb the current-account deficit start to pay off
• The opening of the world’s longest bridge is another step in China’s project to bring Hong Kong back into its bosom

To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Chris Bourke

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