President Trump’s Condition Sees Improvement

Reports over the weekend and this morning continue to chronicle the improving condition of the President’s health as he battles COVID-19. His progress could mean he will soon be leaving the hospital and returning to the White House. Markets that were rocked by the news last Friday appear to be settling down as Mr. Trump seems to be winning his battle against the coronavirus.

Domestic equity markets are looking to open in the green as the Treasury market sees a modest sell-off in the long end. The Ten-Year’s yield looks to be little changed at 71 basis points while the Long Bond’s yield has edged up to 1.51%. The short-end is little changed with the Two-Year at 13 basis points. Crude oil has rebounded about a dollar-and-a-half to $38.58 with gold holding pretty steady at just over $1,900.

Later this morning, the ISM Services Index is expected to show a little slippage to 56.2 from 56.9. Markit’s Services PMI is also due to be announced and it is expected to remain unchanged at 54.6.