US Treasury Sec. Mnuchin: Fed and Treasury working to provide “unlimited liquidity”

Eren Sengezer FXStreet

"Negotiations on House coronavirus bill are going very well," US Treasury Secretary Mnuchin told CNBC on Friday and added that the bill would allow uninsured people to get tested for COVID 19.

Additional takeaways

"Treasury looking at using its authorities to address coronavirus impact."

"US banks should feel free to draw from Fed discount window."

"Fed and Treasury are working to provide unlimited liquidity."

"Circuit breakers work, markets are working orderly."

"We intend to do everything we can to keep markets open."

"Coronavirus will not prevent tax cuts from paying for themselves over a 10-year period."

Risk flows continue to dominate markets

As of writing, the 10-year US Treasury bond yield was up 17.5% on the day at 0.933%.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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