Stimulus hopes not dead yet
Trump Calls for Some Covid-19 Relief Measures After Shutting Down Stimulus Talks – The president renewed his calls for Congress to pass individual coronavirus relief measures, including airline aid to avert widespread layoffs, after he ended talks with Democrats on a larger package until after the election-WSJ
From yesterday’s FOMC minutes …“But the minutes show many officials premised their brighter economic forecasts on additional spending from Congress and the White House that now seems less likely to materialize soon. “If future fiscal support was significantly smaller or arrived significantly later than they expected, the pace of the recovery could be slower than anticipated,”.- WSJ with this mindset if no Fiscal stimulus at hand then the burden to stimulate economy falls back on the fed and thus a likely increase in More Bond buying. Just something to be aware of also another theme that has been circulating a bit is if Biden wins and Dems take senate then the Expectations for an even bigger Stimulus package $4trillion? is a possibility. Plenty of cross currents ongoing leading up to election… The Next presidential debate will take place Virtually.
Markets so far today higher Bonds,stocks,gold,silver,oil,dollar a touch heavy it looks like an ole QE trade where everything is higher European stocks also higher so far today 18-20 stoxx 600 sectors higher led by travel and leisure and real estate .news that Japanese Investors bought a record amount of Italian bonds for a second consecutive month pushing yields to all-time lows to pretty darn close of .76%. the markets don’t care much about economic dat these days all focus on stimulus talks and election results.
- President Donald Trump said Thursday that he will not participate in a virtual debate against Joe Biden, essentially pulling out of next week’s town-hall style event
- TRUMP CALLS KAMALA HARRIS A ‘COMMUNIST’, LEFT OF BERNIE SANDERS
- TRUMP CAMPAIGN SAYS TRUMP WILL HOLD A RALLY INSTEAD OF ATTENDING NEXT PRESIDENTIAL DEBATE -STATEMENT
- TRUMP: THERE IS A GOOD CHANCE TO REACH A DEAL ON COVID-19 AID.
- Weekly Soybean Export Number Bullish Go Figure
- BOJ upgrades its assessment for 8 of 9 Japanese regions in latest quarterly report.
- Follow the liquidity. ECB ramps up balance sheet expansion – Die Welt
- IBM +10% to spin off IT infrastructure unit
- Hurricane Delta now only a cat 2 not much strengthening is expected path is shifting towards Texas -LA boarder
- A few Bullish Comments from OPEC has oil on the bid