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Bonds & Bullion Bid As Stocks Skid On Stimulus/Vaccine Stumble

For a few brief moments today, stocks rallied to record highs and all was fixed in the world as leaked “scoops” suggested Mitch McConnell was readying a $900bn COVID Relief Bill that might just work… but then that was dismissed and algos refocused on disappointing vaccine headlines once again…

  • 1154ET SOME STATES’ COVID VACCINE ESTIMATES USED OUTDATED FIGURES, STATE FIGURES ASSUMED MORE PFIZER SHOTS WOULD BE AVAILABLE” HHS
  • 1200ET McConnell re-evaluating liability protection, to announce $900bn bill at 3pm
  • 1215ET McConnell will not be announcing bill at 3pm

Here’s what that looked like in markets. Nasdaq held gains while Dow and S&P were red with Small Caps trying hard to eke out some gains.

The Dow battled for 30k in the afternoon before the late-day buying-panic hit.

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