Stimulus?

Investors around the world are waiting to see if America comes through with another fiscal aid package. This week has seen hopes rise and fall and, according to this morning’s news reports, talks between Nancy Pelosi and Steve Mnuchin are ongoing. Today is light on data and attention is focused on the progress that might, or might not be, made. Optimism that an agreement can still be reached despite an earlier cessation to negotiations, may be why equity markets are poised to open in the green. A volatile week for the Treasury market is beginning its last day with prices little changed in early trading. The Ten-Year is still yielding around 77 basis points with the Long Bond at 1.58%. The Two-Year is holding on to its lofty 15 basis points. Gold likes something and its $25 rally has taken its price to $1,920. Crude oil is little changed at just below $41 as Hurricane Delta makes landfall today on the Gulf Coast.