Yields Surge As Stunned Traders Learn Biden To Propose Massive $2 Trillion Stimulus

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Wads of 100 euro banknotes are stacked in a pile at the Money Service Austria company's headquarters in Vienna, Austria, March 3, 2016. REUTERS/Leonhard Foeger - RTS94F0

Zero Hedge: Last week, Goldman sparked a buying frenzy in the market (and selling in treasuries) when the bank said it expects the Biden admin would unveil a “modest” $750 billion fiscal stimulus plan, including some $300 billion in “stimmy” checks to Americans.

However, as bank after bank tried to upstage Goldman and threw around stimulus estimates as high as $1 trillion or even more, the market barely noticed when late this afternoon, incoming Senate majority leader, Chuck Schumer reportedly “pressed” (in Bloomberg’s words) Joe Biden to propose more than $1.3 trillion in spending for his initial round of Covid-19 relief. Read More

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