REFILE-GLOBAL MARKETS-Global shares edge up on news Trump signs aid bill

By Kitco News / December 27, 2020 / www.kitco.com / Article Link

(Corrects typographical error in paragraph 6)
* U.S. stock futures reverse early losses after Trump'stweet
* Source says Trump has signed $2.3 trln spending package
* 2020 asset performance By Hideyuki SanoTOKYO, Dec 28 (Reuters) - Global shares ticked up on Mondayas a source said U.S. President Donald Trump signed into law a$2.3 trillion pandemic aid and spending package he had until nowrefused to sign.U.S. S&P futures last traded up 0.4%.


The futures had earlier reversed losses after a cryptictweet by Trump - "Good news on Covid Relief Bill. Information tofollow" - helped offset worries about further delay in stimulusspendings. A source later said he had approved the bill .Japan's Nikkei inched up 0.4%. MSCI's broadest indexof Asia-Pacific shares outside Japan rose 0.2%,though trade is slow with many markets still closed for holiday."It is positive for markets that we no longer have a chaosover stimulus, considering there was a chance of a partialgovernment shutdown," said Masahiro Ichikawa, chief strategistat Sumitomo Mitsui DS Asset Management."But on the other hand, markets have talked about thatstimulus for a long time and I would say most of it has beenalready priced in."


Trump had refused to sign into law the pandemic aid andspending package that the Congress has passed, demandingstimulus checks for struggling Americans be increased.Trump's threat to not sign the package had already shutteredan emergency unemployment aid programme and threatened a partialfederal government shutdown at midnight on Monday. U.S. bond yields edged up in its first trade afterChristmas, with the 10-year U.S. Treasuries yield up 0.6 basispoint at 0.930% .The rollouts of COVID-19 vaccines are also bolstering hopesof more economic normalisation next year, with Europe launchinga mass vaccination drive on Sunday. That offset alarms over a new highly infectious variant ofthe virus that has been raging in the south-east of England andwas confirmed in many other countries, including Japan, Franceand Canada, over the weekend. Major currencies were little changed.The euro traded at $1.2204 , a tad below its2-1/2-year high of $1.22735, while the yen changed hands at103.56 per dollar .The British pound changed hands at $1.3565 , not farfrom a 2-1/2-year high of $1.3625 hit earlier this month afterBritain and the European Union reached an agreement on tradeframework after Brexit.


Bitcoin extended gains over the weekend to reach a new highof $28,377.94 before stepping back to $26,457.32,bringing the total value of the cryptocurrency in circulation toover $500 billion.Oil prices edged down a tad, with U.S. crude futures down 0.8% at $47.85 per barrel. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^World FX rates in 2020 2020 asset performance ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Additional reporting by Tomo Uetake; Editing by Himani Sarkar)


Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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