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Markets Today: Is Biden’s honeymoon over already?
podcast US equities fell for a second day on Friday as investors reassessed President-elect Biden ability to implement his pandemic relief spending plan. Soft US data and US banks underperformance didn’t help sentiment either. A safe-haven bid lifted the USD and weighed on longer dated UST yields while oil led the declines within commodities. US equities futures traded in negative territory during our APAC session on Friday reflecting a cautious reaction to President-elect Biden’s pandemic relief package. In our view, the underwhelming market reaction to Biden stimulus plan reflects the reality that at this ... (full story)