Vaccine Upends Outlook, Fed Worry, N.Z. Japanification: Eco Day

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

  • The global economic outlook could materially change for the better following promising results for a Covid-19 vaccine developed by Pfizer Inc. and BioNTech SE
  • The Fed is warning that asset prices in key markets could still take a hit if the pandemic’s impact worsens. Meantime, here’s what a Biden victory means for the U.S. central bank; Lael Brainard may face scrutiny over dovish China comments if named Treasury Secretary
  • The Reserve Bank of New Zealand’s growing dominance of its bond market is sparking unfavorable comparisons with Japan
  • Joe Biden warned that the U.S. faces a “dark winter” as Covid continues to spread, taking a somber tone even as scientists celebrated positive news about a potential vaccine
  • Here’s how China’s singles’ day became the biggest shopping spree
  • Donald Trump ran for re-election pledging to rapidly restore a pre-pandemic U.S. economy he called the best ever — and lost in part because that didn’t ring true in key industrial battlegrounds
  • The EU will impose tariffs on $4 billion of U.S. goods in a tit-for-tat escalation of a transatlantic fight over illegal aid to aircraft manufacturers Boeing Co. and Airbus SE
  • The Swiss National Bank’s U.S. equity investments have risen to a record $127 billion, while Sweden’s Riksbank has signaled it will be heavily leaning on Swedish real estate companies
  • The U.S. is imposing sanctions on four more people in its continuing response to China’s crackdown on dissent in Hong Kong

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