U.S. Stock Futures are Higher After Yesterday's Selloff #MarketUpdate #Biden #COVID
U.S. stock futures are higher: Equity futures and most global markets are trading higher this morning after yesterday’s selloff as investors reevaluated the systemic fallout from Evergrande’s liquidity issues. According to S&P Global Ratings a default is “likely” and as of this morning, Chinese government officials have made no definitive announcements regarding any form of direct bailout or support. Treasury yields on the 10y & 30y bonds have ticked up a couple of basis points. Fed officials will gather today for monetary policy meeting with an announcement Wednesday afternoon. The ultimate timing/ size of the tapering and an eventual pivot from its current accommodative policy are the principal concerns. Today President Biden will address the U.N specifically on topics related to climate change, Covid and diplomatic issues. European markets are trading higher.