Despite yesterday’s Presidential tweet calling for a halt to Congressional negotiations over fiscal stimulus, the President has since expressed his willingness to approve stand-along bills that would provide targeted relief to individuals, small businesses, and airlines. Equity markets are recovering much of yesterday afternoon’s sell-off in pre-opening trading. Treasury prices continue to slide, pushing the Ten-Year’s yield up to around 78 basis points, the Two-Year is yielding 15 basis points while the Long Bond is just below 1.60%. Later today, the FOMC will release the minutes from its September meeting and the Treasury will sell $35B Thirty-Year bonds. This morning’s only data point was from the Mortgage Bankers Association telling us that, for the week ending October 2nd, Mortgage Applications rose 4.6%. Crude oil has lost its $40 handle at $39.85 while gold’s $10 advance has pushed its price to $1,888. The Federal Reserve will release its report on Consumer Credit at 2:00 CDT.