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US House Speaker Nancy Pelosi said that she talked to US Treasury Secretary Steven Mnuchin on Friday and added that House Democrats and the Trump administration is moving closer to a deal on the new coronavirus legislation.

Earlier in the day, US President Donald Trump urged the US Congress to approve payroll tax cuts until the end of the year. 

Market reaction

Wall Street’s main indexes remain on track to open the day sharply higher after futures indexes hit the daily upper limit earlier in the day. Additionally, the 10-year US Treasury bond yield is up 16% at 0.922%.

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