Wednesday, 22 Jul 2020 04:35 PM MYT
News that trials on a vaccine had shown early promise provided a much-needed boost to equities, particularly as a spike in new infections around the world has caused governments to reimpose business-strangling containment measurements. However, while Democrats have drawn up a new US$3.5 trillion plan, Republicans and officials in the White House are bogged down trying to draw up their own package, which is said to be around US$1 trillion.
“No lawmaker, especially in an election year, wants to... be accused of being frugal when people are dying across the US Sunbelt at record levels.” Morgan Stanley strategist Andrew Sheets said stocks would have trouble pushing much higher without a key driver.
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