Week Begins on a Quiet Note

With the planet managing to maintain its rotation over the weekend and with no major macroeconomic announcements scheduled for today, Monday is getting off to a quiet start. Despite Florida setting a new record for its daily case count, Disney World is open amid nationwide concern over COVID-19’s resurgence.

Investors can look forward to a week containing earnings reports from many major corporations against a backdrop of central bank meetings in Japan and the European Union. A meeting of OPEC+ nations scheduled for later in the week may see an agreement over what would be historic production cuts.

For now, Treasury prices have slipped slightly but the Ten-Year’s yield is still only around 65 basis points. The Two-Year looks to be unchanged at around 15 basis points with the long bond off about a half-point for a yield of 1.35%. Domestic equity markets look to open in the green with gold up about $9 to $1,808. Crude oil is hanging on to a $40 handle, but just barely.