Quantitative tightening may draw reticent short-term investors back into Treasuries, although some analysts believe that, "from a cash-market perspective, nothing will change when the first bill runoff takes place on Thursday."
According to the head of sustainable capital markets at BNP Paribas, some borrowers want the benefits of tying loans to ESG goals without disclosing specific targets until a later date.
Despite two quarters of GDP decline, the U.S. is not currently in a recession, says the official arbiter of such things, the NBER's Business Cycle Dating Committee.
Biden is expected to announce the program tomorrow. Depending on the amount forgiven and income limits, it may cost the federal government between $300 billion and $980 billion.
