As the American people continue to fight the coronavirus this holiday season, they are not alone. Congress has just reached an agreement. We will pass another rescue package as soon as possible. More help is on the way, ” Mitch McConnel tweeted in the Senate.
BREAKING: As the American people continue to fight the coronavirus this holiday season, they won’t be on their own.
Congress has just reached an agreement. We will pass another rescue package as soon as possible. More help is on the way.
– Leader McConnell (@senatemajldr) December 20, 2020
“The four Senate and House leaders have reached an agreement,” he added.
Fox News, Chad Pergram, reports that it is being told that the paperwork for the COVID bill will take a while to complete. Maybe “hours.”
1) Fox is told that the paperwork for the COVID invoice will take a while. Maybe “hours.”
However, there is no meeting of the Rules Committee. That is the signal to see that the house is ready to move. The COVID bill must pass through the Rules Committee.
– Chad Pergram (@ChadPergram) December 20, 2020
Under normal circumstances, the news should be positive for markets where a long-awaited stimulus deal could be within reach, as Moderna’s vaccine ships today to locations in the US.
COVID mutation threatens to dominate the threads
While an agreement is within reach, lawmakers have yet to receive something concrete, which is why disagreements may arise again today and progress is slowing down.
Markets are well aware of this, although it has happened repeatedly over months of talks.
Additionally, lawmakers are facing a 12:01 a.m.ET Monday deadline to avoid a government shutdown.
Also, bulls will only be cautiously optimistic given how the UK has identified a new, more contagious variant of the coronavirus.
The card of the week: no gift from Santa this year for GBP / USD bulls