Overseas Headlines – February 11, 2021

United States:

Americans’ Saved-Up Stimulus Checks Could Bring Economic Boost

“President Joe Biden has promised to “act fast” in delivering another dose of pandemic relief, including $1,400 checks for millions of Americans. That doesn’t mean all the recipients will be in a hurry to spend the money. By comparison with the first round of stimulus checks that went out last spring, the payments from Biden’s $1.9 trillion aid bill are much more likely to be saved rather than spent, according to a new survey by Morning Consult commissioned by Bloomberg News.”



EU Says Economic Recovery Delayed With Vaccine Rollout Crucial

“The European economy will recover more slowly this year as the coronavirus keeps a tight grip on the region, with the outlook resting largely on a vaccination campaign that has so far stumbled. The European Commission cut its forecast for euro-area growth this year to 3.8% from 4.2%, and said its predictions “crucially” hinge on virus containment measures starting to be eased toward the end of the second quarter. They should be largely phased out by the end of the year.”



Surprise Demand at India Bond Sale Spurs Speculation of RBI Hand

“Surprise demand at a special auction for Indian government bonds has spurred speculation that the nation’s central bank was buying in the secondary market. The benchmark 10-year bond was sold at 5.9726% cutoff yield, lower than 6.03% estimated in a survey by Bloomberg News. The 2025 bond saw a cutoff yield of 5.5410%, lower than the estimated 5.60%. The central bank accepted 20 billion rupees ($275 million) more in each bond than the total 220 billion rupees it had planned to raise.”




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