President Biden will lay out the details of his plan to disperse 500 million free Covid-19 tests to combat the rise in cases stemming from the Omicron variant; Omicron is now the most prevalent among new cases in the U.S., accounting for more than 70% of all infections. Risk markets responded positively from their Monday slump, with both S&P and NASDAQ futures up nearly 1% this morning – Treasuries sold off across the curve. There also remains optimism that the Build Back Better plan can be salvaged, with Senate Democrats set to hold a special meeting this evening.
Michael Oravetz
Senior Director, Investment Management Group
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