Markets Are Expected To Start The New Week Positively

Markets are expected to start the new week positively. Approval of the stimulus package in the US raised hopes.

As a result of the Senate's approval of the $ 1.9 trillion stimulus package offered by US President Joe Biden, it is estimated that the markets will start the new week positively. In the USA, during the coronavirus epidemic process, the first stimulus package was prepared in March and approved by former US President Donald Trump. With $ 2.2 trillion, the largest stimulus package in US history included one-off direct aid as well as spending for healthcare needs. Among them, the supply of masks, respirators and other health equipment stood out. After the first stimulus package, another $ 900 billion package was approved during the Trump era. The $ 900 billion package included headings such as direct aid of $ 600 to employees who were under $ 75,000 annually in 2019, $ 300 per week for unemployed people, tax cuts for low-income people, stopping layoffs, not evacuating those who could not pay their rent until January.   Joe Biden Era Joe Biden, who took over the presidency right after the acceptance of the $ 900 billion package signed by US President Donald Trump, announced that they are working on a comprehensive package and that it will be implemented in a short time. Janet Yellen, former FED President and Treasury Minister in the new staff, explained the contents of the package, drew attention to its necessity and called for support. A vote was held and accepted in the House of Representatives in February for the new 1.9 trillion stimulus package. The package that was voted on in the Senate on March 6 was accepted with 50 to 49 votes, but voting will be held in the parliament again due to the changes in the package. Weekly unemployment benefits, which were accepted as 400 dollars in the parliament, were accepted as 300 dollars in the senate. Therefore, US President Biden is expected to sign the package within the week. Although the expectation that the markets will open positively due to this development is strong, it is stated that the bond volatility will be at the focus of the markets.     This article has contributions of Investing.com.