The markets are betting a stimulus deal will finally get done—and soon

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Good morning, Bull Sheeters.

U.S. futures are on the rise again on Wednesday as investors bet Congress could strike a long awaited stimulus deal at some point this week. If it feels as if we’ve been saying this for months, it’s because we have. And yet you bulls have never once lost faith.

That optimism is lifting global stocks.

Let’s check in on what’s moving markets ahead of a big update today from the Fed that could impact the bond market.

Markets update

Asia

  • The major Asia indexes are awash in green in afternoon trading with the Nikkei up 0.3%.
  • In Washington they can’t seem to agree on budgets and stimulus, and yet Japan is about to pass its third “extra” budget this
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Bitcoin breaks above $20,000 for first time By Reuters

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© Reuters. FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph

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LONDON (Reuters) – smashed through $20,000 for the first time on Wednesday, its highest ever.

The cryptocurrency jumped 4.5% to move as high as $20,440. It has gained more than 170% this year, buoyed by demand from larger investors attracted to its potential for quick gains, purported resistance to inflation and expectations it will become a mainstream payment method.

Bitcoin’s blistering rally has seen a massive flow of coin to North America from East Asia, fuelled by hunger for bitcoin among bigger and compliance-wary U.S. investors.

The rally in bitcoin, which some investors have seen as a potential safe-haven, has coincided with ‘s drop in recent months.

Some investors such as hedge funds and family offices have in the past been deterred by the opaque nature of the crypto market.

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