Biden’s plan bets big on infrastructure and the “old” economy
Macro-economy
April 1, 2021
Biden’s $2.3 trillion recovery plan boosted growth expectations in the US, pushing stocks higher globally. US Treasuries were under pressure, with the 10Y yield climbing at 1.753%. European stocks continued to underperform, with declines on the FTSE, CAC and DAX as France extended the regional lockdown nationally.
ICE Brent prompt contract remained supported at 75.6 $/b. Large crude importers such as India urged the OPEC+ group to increase production, citing inflationary pressures…
With one week to go before the next Fed meeting, the August inflation figures for the US are of particular importance. A very slight drop is expected,…
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