The narrative that today is all about increased odds of stimulus is way off the mark: https://twitter.com/TDANetwork/status/1334951026097577984

// 1) the dollar is firm, and the dollar has only firmed on days where there is vaccine news or better-than-expected data

// 2) gold and bitcoin down on the day. These two live for stimulus and if there were some repricing of more stimulus these would almost certainly be up on the day. Frankly the analysis can probably end here

// 3) the reopening trade today is all about energy stocks, which never got a bid even when everyone was talking stimulus and it looked like a sure thing. Stimulus shows up in airlines, not drillers. $XLE +4.5%, $JETS -.5%

// 4) bottom line: economic assumptions are still too bearish and ppl are mixed up on why bonds are dropping. That's impt for policymaking if the narrative is off and suggests that actual surprise fiscal deal could lead to deep bond selling.