(Bloomberg) -- Happy Friday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend.

• The U.S. economy’s comeback is firing on all cylinders with jobs, retail spending and manufacturing exhibiting strong gains
• China’s holdings of U.S. Treasuries rose in February to the highest since mid-2019 as yields climbed due to prospects of more stimulus
• A senior BOJ official downplayed potential for China’s digital yuan to threaten the dollar’s position as the world’s main reserve currency
• Add Goldman Sachs Group Inc. to the list of forecasters calling for oil demand to peak sooner rather than later
• China’s GDP growth will probably soar to the fastest on record in 1Q, writes Chang Shu, estimating it expanded 20.1% year-on-year
• Joe Biden’s strategy of bolstering labor unions to boost pay is running up against a half century of setbacks for organizing workers
• Italy’s debt will exceed the country’s previous record amassed in the aftermath of World War I, laying bare the debilitating cost of the coronavirus pandemic on the euro-zone’s third-biggest economy
• Foreign investment uncertainty in Australia jumped in 2020 amid increased global tensions and the politicization of decisions relating to the energy and resources industries, according to a new gauge
• Ngozi Okonjo-Iweala promised that life at the WTO on her watch would not be business as usual. So far, she’s delivering
• Biden’s effort to harness U.S. alliances in Asia to counter China will get a test run during his summit with Prime Minister Yoshihide Suga

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