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The Weekly Fix: Humungous Test for the Bond Market’s Big Short

Joe Biden, 2020 Democratic presidential nominee.

Joe Biden, 2020 Democratic presidential nominee.

Photographer: Kevin Dietsch/UPI/Bloomberg.

Welcome to the Weekly Fix, the newsletter that thinks this monetary versus fiscal relationship is about to get really complicated.  –Emily Barrett, now Asia FX editor, on the other side of the world.

The theory that the U.S. election will clear the way for a deluge of fiscal spending that will propel yields higher may still hold, but... pandemic.