Big day in the market today, the stimulus proposal has been debated, rejected, adjusted and postponed and will more than likely come to a conclusion today. The markets have quieted down a lot in preparation for the FOMC statement tonight at 9PM that will vastly affect the majority of instruments in the market.
There is an assumption that Powell might announce tonight that there will be a tapering down of asset repurchasing in the markets from June this year, that will have to be seen how it is taken in the market.
It does seem like the $1.9 Trillion stimulus package will be put in place with Biden pushing it hard to get it to the public. Everyone seems to be holding their breath to find out how that stimulus package will be distributed.
This is however a very significant day in the market, and we should see little volatility prior to the announcement.