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Big Stimulus Deal Line In Sand For GOP

US TSYS SUMMARY

Dueling headlines over a stimulus deal continued to drive market speculation, but still no closer to a deal after the bell. Rates opened with a strong risk-off tone Thursday, but followed a steady pace as gains given back through the close.

Salient headlines:

  • MNUCHIN: WE'RE GOING TO KEEP TRYING TO GET STIMULUS DEAL
  • WHITEHOUSE: THERE'S A CHANCE `SERIOUS' STIMULUS BILL MAY EMERGE
  • MCCONNELL REJECTS `HIGHER AMOUNT' FOR STIMULUS: REUTERS
  • TRUMP: WILLING TO RAISE STIMULUS OFFER ABOVE $1.8 TRILLION, Bbg
  • May be all for naught, but the risk-on tone is gained momentum after the bell on back of House Speaker Pelosi headlines:
  • HSE DEMS: WILL ADDRESS NEEDS IF NO DEAL SOON, Bbg
  • STIMULUS RELIEF WON'T WAIT UNTIL JANUARY, Bbg
  • Equities back to early overnight levels, rates on lows
  • The 2-Yr yield is unchanged at 0.139%, 5-Yr is up 0.8bps at 0.312%, 10-Yr is up 0.8bps at 0.7339%, and 30-Yr is up 0.8bps at 1.5134%

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