Safety in Bullion, U.S. Stimulus Haggle, Debt Defaults: Eco Day

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

  • Gold’s unrelenting march highershows no signs of slowing after a plunge in the dollar swept prices past the previous high set in 2011 and has $2,000 in its sights
  • Republicans in the U.S. Senate presented their$1 trillion plan to bolster the pandemic-ravaged U.S. economy
  • Company debt defaultsare set to rise as policymakers cut back on widespread support and shift toward more targeted pandemic spending, according to Pacific Investment Management Co
  • The coronavirus outbreak isaccelerating a push to digitize India’s food-rationing system, allowing citizens to receive entitlements anywhere in the country — boosting labor mobility and the recovery
  • China reportedthe most domestic coronavirus infections in more than four months as it battles outbreaks in its western and northeastern regions, raising fears of a serious resurgence
  • Bank Indonesia’s unprecedented move to buy about $27 billion in bonds directly from the government may prove to be anexception rather than the norm in emerging markets
  • China continues tolag behind the pace of imports from the U.S. needed to meet the terms of the two nations’ trade deal
  • The euro-arearecovery is flattening, and the U.S. and U.K. are lagging, daily activity indicators show, as Bjorn van Roye explains
  • The U.K.’s post-Covid unemploymentis set to peak at the end of this year and will be milder than the U.S., Goldman Sachs says
  • An Africa-wide free-trade pact could bolster theregion’s income by $450 billion and lift 30 million people out of extreme poverty
  • After several years weighing the pros and cons of leaving Hong Kong, Ms Leeis taking the plunge and moving to Canada. Though she has no job lined up and faces higher taxes, she’s willing to risk it

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