It’s the calm before the storm…Mortgage Bonds are quietly higher this morning ahead of some very important news items coming over the next few hours. Soon we’ll hear from Treasury Secretary Timothy Geithner, who will give us details on his proposals for the remaining TARP money. The financial sector could have a significant reaction.
But the fun will just be starting, because at 12 Noon ET, the Senate is set to vote on the $800B stimulus package. Last night, the Senate voted 61-36 to end the debate on the stimulus plan, and vote on what is being presented as is.
Shortly thereafter, at 1pm ET, Federal Reserve Chairman Ben Bernanke will speak about the Fed’s liquidity efforts at the House Financial Services Committee. These speeches could have a big impact on both Stocks and Bonds.
