US signs new stimulus package into law today

US signs new stimulus package into law today

US Congress has cleared a 1.9 tn USD stimulus package which will see each American get a cheque for up to 1400 USD, unemployment benefits topped up and another 350 bn USD in local government aid and tax credits added to boost the US economy. The bill passed narrowly by 220 to 211 votes, with every Republican voting against the bill, though which will now be passed into law today. This has in part helped global risk assets recover from a period of heightened volatility, notably in highly valued US technology stocks as investor confidence in fiscal and monetary support for the US economy is strengthened. Meanwhile in fixed interest, US sovereign debt continues to sell off to new 1 year lows as expectations of inflation and an improving economic recover take hold. In the same way, UK government debt also approaches year lows in line with the expected global recovery.