Following US Treasury Secretary Steve Mnuchin’s rejection of Democratic bid for the coronavirus (COVID-19) aid package, near $2.2 trillion, White House Chief of Staff Mark Meadows recently mentioned that the latest talks waver around $1.5 trillion. The Trump administration member also said that there will be more aid for airlines.
Negotiations between US House Speaker Nancy Pelosi and Treasury Secretary Mnuchin have stalled on Wednesday night after the ruling party refrains from adjusting their limits. However, the policymakers passed a stopgap funding bill to avoid a government shutdown.
Market implications
With a little move and no major data, S&P 500 Futures pay a little heed to the news that could have hit the market sentiment. In doing so, the risk barometer gains 0.50% 3,369 by the time of the press. Also portraying the mild risk-on mood are the US 10-year Treasury yields that inch closer to regaining the 0.70% threshold.
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