Joe Biden is set to lay out his stimulus package later today
Bond yields that had declined have started rebounding on rumors the stimulus package may amount to $2tn. Answer later today. Whatever the size of the…
Still very calm financial markets overall with limited variations on the stock market and no big moves on the FX market either. The EUR/USD exchange rate is trading near 1.2075, just as it was yesterday morning. However, the US 10y bond yield has rebounded to 1.64%, its highest level for more than 2 weeks. The bond market is cautiously positioning itself before the Fed meeting, just in case there is a nasty surprise, such as the mention of a reduction in bond purchases. This is probably too soon and things should be back to normal tonight.
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