A Quiet Start to the Day

With an agreement over a stimulus plan looking likely to produce a bill for Congressional contemplation, it remains unclear if it will be stand-alone legislation or part of a much bigger spending plan needed to fund the government for the next year. The government’s current spending allocation expires at midnight tonight. Earlier today, the Bureau of Economic Analysis reported that the nation’s Current Account Trade Balance became a little more unbalanced in Q3 with a move to minus $178.5B from the prior quarter minus $170.5B. A little later, the Conference Board will release November’s Index of Leading Economic Indicators. In early trading, bond prices are up slightly with the Ten-Year yielding 92 basis points and the Long Bond yielding 1.67%. The Two-Year Treasury is unchanged at 12 basis points. Crude oil is hanging in at $48.38 and gold is little changed at $1.887. Equity markets are looking to open fairly flat. All quiet so far.