Stocks give cautious welcome to U.S. aid deal, wary on Brexit

SYDNEY - U.S. stock futures traded sideways in Asia on Monday as investors gave a cautious welcome to news a deal had been struck on a long-awaited U.S. stimulus bill, though “difficult” Brexit talks dragged on with no agreement in sight.

Prime Minister Boris Johnson will chair an emergency response meeting on Monday to discuss international travel and the flow of freight in and out of Britain. Analysts at BofA noted a huge $46.4 billion flowed into equities in the latest week, while the outflow from cash was the largest in four months. There were record flows into tech shares, a large flows to the consumer sector, healthcare, financials, real estate and value stocks.

Another popular trade has been shorting the U.S. dollar and again positioning was looking overextended by many measures, giving the currency some respite on Monday.

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