Fidelity: Asia is already seeing the light at the end of the tunnel

USA
With the inauguration of President Biden, the risks associated with the U.S. presidential election are gone. As an unexpected turn in the second round of the Georgian election, Democrats won, so Biden won a majority in Congress, paving the way for greater fiscal stimulus.

Asia
As Asian economies appear to be tackling the Covid-19 pandemic more effectively than their Western counterparts and thus being able to return to growth sooner, the latest Total Social Financing (TSF) indicator released by the People’s Bank of China shows that the Chinese economy has begun to transition to hawkish monetary policy, which is expected to have consequences for Asian high-yield bonds as well.