American Rescue Plan

American Rescue Plan Embodies and Is Likely to Create New Paradigms

March 11, 2021

At 8:00 tonight, U.S. President Biden will deliver his first prime time speech. While the timing of his talk coincides with the anniversary of the imposition of social distancing restrictions to counter the Covid-19 crisis, the address provides an opportune time to justify the American Rescue Plan, which sacrificed the initial desire that the law […] More

Financial Markets Continuing to React to American Rescue Plan

March 11, 2021

The $1.9 trillion American Rescue Plan will be signed by President Biden tomorrow. This is an aggressive relief effort aimed predominantly at the middle class and includes another round of direct payments to households, an extension of unemployment benefits, and — something excluded from the CARES act — support for state and local governments. In […] More

Somewhat Firmer Dollar as Long-Term U.S. Treasury Yields Rise Anew

March 10, 2021

The dollar is trading 0.2% higher on a trade-weighted basis and versus the yen and Australian dollar. The greenback also shows a gain of 0.3% relative to the Swiss franc and 0.1% against the euro, loonie, kiwi, and yuan. U.S. stock futures are narrowly mixed, and Japan’s Nikkei closed unchanged. Continental European stocks are higher, […] More