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As expected, the House passed the stimulus bill yesterday. First checks will be sent as soon as this month the Treasury promised. In parallel, the bond market was reassured by lower-than-expected core inflation figures and a quiet 10-year Treasury bond auction. The US 10-y bond yield eased slightly further and the stock market posted some gains, except the Nasdaq that was marginally down. The USD lost some ground, the EUR/USD coming back above 1.19. The ECB meeting will be the main event today.
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