DC Fiscal Differences Narrow, Is It Enough? RBA Events Eyed In Asia

E-minis have nudged higher since the Wall St. cash close, with light pressure on T-Notes as the differences between the Trump Administration and Democrats re: fiscal stimulus reportedly narrow, even with some notable hurdles (and Senate Republican opposition to the proposals from the Democrats) still in play. A reminder that this comes ahead of the impending Tuesday deadline.

• Looking to Tuesday's Asia-Pac docket, the PBoC will conduct its monthly fixing LPR, with consensus looking for both the 1- & 5-Year metrics to be left unchanged at 3.85% and 4.65% respectively. Elsewhere, the minutes from the RBA's most recent monetary policy decision and an address from RBA Assistant Governor Kent (titled "The Stance of Monetary Policy in a World of Numerous Tools") are due. While the October meeting minutes may be rendered somewhat outdated in the wake of the recent address from RBA Governor Lowe, they will still be worth a quick skim to see if any discussions re: further easing were documented.