US Pres. Trump says he expects $8.5B emergency coronavirus funding bill
|US President Trump is back on the wires now, via Reuters, noting that he expects $8.5B emergency coronavirus funding bill.
He added that he's working with Congress.
Market reaction
In an emergency move, the US Federal Reserve (Fed) cut rates by 50bps, leaving investors scurrying for safety. The US dollar slumped across the board in tandem with the US Treasury yields.
The benchmark US 10-year Treasury yields hit a new record low of 1.028%, now shedding over 5% on a daily basis. Meanwhile, the USD index reached the weakest levels in two months at 97.00.
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