The coronavirus didn’t go away over the weekend and neither did civil unrest in many cities across America. The variables at play remain subject to subjectivity as investors evaluate the likelihood of a workable vaccine, lawmakers evaluate the characteristics of the next stimulus, and partisan politics prevents more than it promotes. Business as usual.
With no major domestic data announcements scheduled for today, the continuing spread of the virus and the likelihood of new government stimulus programs, here and abroad, have garnered investors’ attention.
Equity markets look to open slightly weaker while Treasury prices may start the day slightly higher. The Ten-Year’s yield is just a nudge higher than 60 basis points. Crude oil is little changed at around $40 while gold has rallied abut $5 to $1,815.