fiscal spending

A rare regime-change in economic policy is edging central bankers out of the pivotal role they have played for decades.

Advanced economies have already spent enormous amounts providing Covid-19 pandemic relief to households and small- and medium-size businesses. The International Monetary Fund’s June outlook estimates that, including fiscal measures and credit guarantees

At the start of this year, Asian high yield bonds were one of the asset classes favoured by UBS Asset Management (UBS-AM) to outperform. Their valuations did not look overly stretched and fundamentals were firm. In fact, the US and C