U.S. government debt prices were higher Wednesday morning as hopes of imminent fiscal spending to offset the impact of the coronavirus outbreak have yet to materialize.
Stocks rallied on Tuesday, recovering from Wall Street's worst one-day sell-off since the 2008 financial crisis on Monday, butWhite House official told CNBC Tuesday
that President Donald Trump had pitched a 0% payroll tax rate for employers and employees for the rest of the year, on top of an $8.3 billion spending package signed last week. However, no stimulus package appears to be forthcoming out of Washington and Dow futures pointed to another sharp opening loss Wednesday morning, as cases of the virus in the U.S. surpassed the 1,000 mark.
U.S. inflation figures for February are due at 8:30 a.m. ET before the U.S. monthly budget statement at 2 p.m. ET.
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