Mon, 11/23/2020 – 10:19
Politico’s Jake Sherman reports that Biden spokesman Andrew Bates reports that the Biden admin does not support paring back Democratic demands in Covid relief talks.
“This is incorrect. The President-elect fully supports the Speaker and Leader in their negotiations.”
The result is a sudden tumble in stocks, led by growth-heavy Nasdaq, erasing all overnight gains, as this suggests there will be no short-term stimulus deal… and this morning’s better-than-expected PMIs do not suggest ‘crisis’ bailout needs for Americans (despite the daily headlines)…
The dollar is spiking, less deficit-spending?
And as the USD spiked, gold was clubbed like a baby seal…
Of course, after Georgia in January, all bets are off…
Go to Source
Author: Tyler Durden