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Language Notification

Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

US-stimulus-UK-fear-Asia-post-covid

Perspectives

US stimulus, UK fear and Asia’s post-COVID ascent

David Bailin

By David Bailin

Chief Investment Officer

December 20, 2020Posted InFixed Income, Investment Strategy and Equities

Congressional approval of a new COVID-relief bill appears more likely. The package is likely to include direct stimulus checks between $600 and $700 to most households and supplement weekly state unemployment insurance payments to workers who lost jobs this year by $300. The $900 billion fiscal support package provides a good start for the New Year, while vaccines will deliver the most effective stimulus.

The appearance of new COVID virus variants is expected. Over time, as in the UK, mutations accumulate and lead to new variants as the virus adapts to the human immune system. The latest clinical advice is that it is highly unlikely that the UK mutation would fail to respond to a vaccine.  That said, risks of further mutations remain.

China is a beacon for both post-COVID impact and recovery. China’s surprisingly strong and immediate export recovery was not something we expected in setting our regional and global growth estimates for 2021. As an investment opportunity, China and Asia are far more important than investors currently appreciate.

Read the CIO Strategy Bulletin