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Biden’s new spending boosts returns as coronavirus and margin calls concerns persist

This is what you need to know to trade today Tuesday, March 30:

U.S. yields are rising as Biden unveils his spending plan, but the U.S. dollar is mostly gaining against coronavirus-ravaged Europe. Concerns about the increase in cases in the US offset the high eligibility for the vaccine. The markets are attentive to consumer confidence and the Archegos saga. Bitcoin remains firm after Visa’s push.

Boost to infrastructure: Details of President Joe Biden’s infrastructure plan are beginning to emerge, and will include investments in green energy and possibly defer tax increases to a separate bill. The increased prospects for debt issuance have triggered a bond sale, raising ten-year yields above 1.70% and also raising five-year yields. The dollar remains firm.

Vacunas en EE.UU .: COVID-19 cases continue to rise in the US, prompting the CDC director to warn of an “imminent doom.” The spike comes as the economy opens up quickly amid the vaccination campaign. About 90% of Americans will be eligible to receive the vaccine by April 19.

The indicator of the Conference Board consumer confidence March will show an increase in confidence amid the economic boom and the arrival of stimulus checks.

Markets continue after the collapse of Archegos Capital, a fund that collapsed on Friday, causing leveraged trading to shock markets and incur losses at several banks. Investors continue to pore over the details, trying to understand whether founder Bill Hwang’s troubles are idiosyncratic or a sign of systemic risk.

Vaccines: A real-world study in the US has shown that Moderna and Pfizer vaccines prevent 90% of infections. Several Canadian provinces have limited the use of AstraZeneca vaccines due to blood clot problems.

The EUR/USD it is on the defensive, trading near the lowest level this year while the Old Continent continues to have difficulties with the launch of the vaccine. In Germany, politicians are singling out each other as cases increase and the population is frustrated with the blockades.

The GBP/USD it remains above 1.3850 as the UK continues to open up and cases are falling.

The Bitcoin skyrocketed on Monday after Visa announced that it would allow transactions with the cryptocurrency. The BTC / USD is around $ 58,000.

Unlocked: WTI is trading around $ 61, steady after the opening of the Suez Canal on Monday. Removing the traffic jam and delays caused by rerouting of ships around Africa is expected to have a ripple effect on world trade.

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