Stocks & Bond Yields Suddenly Plunge On House Stimulus Headlines

Confirming “no deal” today, headlines stating that a House vote on Democrats’ stimulus deal is expected today, US equities and bond yields tumbled as Pelosi claims the difference is ‘not dollars, but value’…

The Dow is red while Nasdaq holds some gains for now…

And 10Y Yields are down notably from overnight highs…

We do note that the House had delayed the vote by one day from yesterday already, although given US Treasury Secretary Mnuchin and House Speaker Pelosi have been speaking, it would indicate that an agreement has not been found in the talks, although we are still yet to hear officially from either sides on how the phone call went.