Olivia Álvarez (Monex Europe) | Joe Biden’s proposed $1,9 Tr stimulus bill will run its race in Senate next week, as House Democrats passed the legislation on Friday. The package includes $1400 direct payments to most Americans, a $400 weekly jobless benefit and an extension of unemployment insurance programs to a larger share of eligible candidates. The bill also includes $20bn for Covid-19 vaccinations, $50bn for testing and $350bn into state and local aids. The plan also aims to hike the federal minimum wage to $15/hour by 2025, although this particular amendment hangs on a thin balance.
US bond markets
James Alexander via Historinhas | Brexit is an irrelevance. So say US equities. In fact, if US equities say anything, they seem to think Brexit is a good thing if it means the Fed holds off from rate rises for longer. Bring it on!