Stimulus hopes fuel optimism. Inflation expectations on the rise

The rather disappointing January US job report reinforced expectations of a substantial stimulus package. The US Treasury Secretary strongly defended it and the Senate voted a budget resolution that clears the way for a vote without support from the Republican party. The stock market continues to rise, but inflation expectations and bond yields too. The euro rebounded against the USD on Friday, confirming that there is a strong support around 1.20 and that the upward trend may resume eventually, once there is some good news in the euro area.

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