What’s in Today’s Report:
- The Presidential Cycle and Financial Markets
Futures are higher with most overseas markets thanks to positive trade headlines and easing Brexit concerns.
Treasury Secretary Mnuchin said last night that Chinese Vice Premier Liu He will travel to Washington for high level trade negotiations in two weeks and that China has encouragingly made significant agricultural purchases so far this week.
British courts ruled the suspension of Parliament by Boris Johnson unlawful, reducing odds of a no-deal Brexit.
Today, there are a few economic reports to watch: S&P Case-Shiller HPI (E: 0.1%), FHFA House Price Index (E: 0.2%), and Consumer Confidence (E: 133.6) and no Fed speakers are scheduled to speak.
There is however a 2-Yr Treasury Note auction at 1:00 p.m. and the results have recently led to sizeable moves in the bond market and subsequently influenced stocks, so there is a potential for volatility in the early afternoon.