What’s in Today’s Report:
- Corporate Bond Market Update
Futures are sharply higher this morning as global governments move forward with more economic stimulus.
The Senate formally released the third economic stimulus bill, valued over 1 trillion (and likely rising). While not a done deal yet, the speed at which Washington is operating has quickened this week and markets are reacting positively to that change.
On the coronavirus front, all of California is now under a “stay at home” order as cases continue to rise.
Today all eyes will remain on Washington and any positive commentary on the stimulus bill will further help stocks, while signs of a political battle will likely reverse these early gains. Economically, there’s one report, Existing Home Sales (E: 5.50M) and today is a “Quad Witch” quarterly options expiration so watch for big volumes on the close.