Pelosi: Looking For Stimulus + Omnibus Bill By Dec 11

House Speaker Pelosi says this morning at a press conference that she has spoken w Senate Maj Leader McConnell about bundling an omnibus spending bill to fund the government together with a COVID-19 package, by Dec 11.

• Politico's Jake Sherman notes that Pelosi has "held out for a big deal for 6 or so months" but said this morning that now that Joe Biden has been elected president, she is willing to settle for a smaller deal.
• Of course, McConnell and other Republicans have proposed a smaller deal than the $1+trn that Democrats (and Pres Trump) have previously sought.
• These comments will further bolster expectations that congressional Republicans and Democrats can compromise on a deal and keep the government from shutting down when a temporary funding bill expires on Dec 11.
• Judging from equities at all-time highs and Tsy yields hitting multi-month highs, those expectations are becoming heightened, potentially setting the market up for a disappointment if the impasse continues.