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Historical Stimulus Plan Moves Forward

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STOCK INDEX FUTURES
The Dow Jones had its largest up day since 1933. However, just a few days ago it suffered one of its worst daily declines.

There were follow-through gains in the overnight trade on news that the White House and Senate leaders reached an agreement on a $2 trillion stimulus bill, which is the largest in U.S. history.

The Senate is expected to vote on the bill later today before it goes to the House and then to President Trump.
U.S. durable goods orders in February were up 1.2% when a decline of 0.9% was expected.

It is encouraging that stock index futures are able to hold on to gains on the recent Federal Reserve stimulus plans. In recent days prior, bullish news lasted for only a short time.

CURRENCY FUTURES
The U.S. dollar is lower again, which is an indication that global liquidity needs are being met.

The euro currency is higher in spite of news that the Ifo institutes business sentiment index fell to it lowest level since 2009.

INTEREST RATE MARKET FUTURES
Flight to quality longs are being liquidated at the long end of the curve.

The Treasury will sell five year Treasury notes today.

The yield curve is becoming more normal, which suggests economic recovery late this year and into 2021.

Contact Alan for more extensive information on these markets at 312.242.7911 or via email at alan.bush@admis.com. Thank you.

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Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

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