Congress Reaches Spending Bill Deal: BBG

Bloomberg reports citing congressional aides that lawmakers have reached a compromise on a funding provision for Veterans Affairs, unlocking a deal to an overall omnibus spending bill agreement.

• Fairly minimal market reaction to this news - it is yet to be officially agreed and even if it were, there has been broad expectation that a deal would finally be reached, averting a government shutdown on Dec 18.
• That said, if agreed, it would remove a negative tail risk from the near-term outlook. But focus is still on the COVID bipartisan stimulus package -with which the omnibus was due to be paired - with details expected to be unveiled at 1600ET.