Biden’s Next Bill, Unfazed Yellen, Brazil Tightening: Eco Day

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

  • Joe Biden is hoping to bring GOP members aboard an infrastructure package set to be a core part of his longer-term economic plan
  • As rising government bond yields stir up angst on financial markets, one person who sounds unfazed is U.S. Treasury Secretary Janet Yellen. Her own go-to measure of debt costs is headed in the opposite direction
  • Government relief programs and lenders’ forbearance have kept U.S. small businesses from defaulting on their debt en masse as revenue slumped during the pandemic crisis, according to a new analysis
  • Money didn’t buy governments pandemic protection as the numbers show middle-income countries like China had some of the best outcomes while rich countries like the U.S. and U.K. had some of the worst, Bloomberg Economics says
  • Brazil is poised to raise interest rates as inflation moves higher with a sliding currency and after the country spent more money shielding its economy from the pandemic slump than almost any other emerging nation
  • A bipartisan group of senators introduced a bill to revamp a 1962 trade law that former President Donald Trump used to justify tariffs on billions of dollars worth of imports on national-security grounds

    • U.S. relations with China won’t improve until Beijing stops its economic coercion against America’s close regional ally, Australia, a senior aide to President Joe Biden said
  • The Bank of England this week is set to drift further away from the European Central Bank and other monetary institutions actively trying to rein in the surge in bond yields
  • The Bank of Japan’s policy review to shore up its stimulus for the longer term is set to land this week as rising bond yields cause angst for central bankers around the world

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