From Business Insider’s “Global markets fly as Trump’s $1 trillion infrastructure plan puts a ‘rocket under stocks’ — and the Fed launches $250 billion of fresh stimulus” posted early Tuesday:
Global stocks jumped on Tuesday after the US Federal Reserve declared fresh economic stimulus measures and on reports that the Trump administration may be working on a $1 trillion infrastructure proposal fund to boost the US economy.
Trump’s proposal aims to set aside funds for infrastructure such as roads and bridges, but part of the funding would also be directed towards 5G wireless infrastructure and rural broadband, according to Bloomberg.
As markets were just beginning to weigh the prospect of another prolonged sell-off amid fears of a second coronavirus wave, talk of a $1 trillion infrastructure plan has “put a rocket under stocks again,” Russ Mould, investment director at AJ Bell, said.
The central bank said on Monday it would begin buying a “broad and diversified portfolio” of individual corporate bonds of up to $250 billion to support liquidity and credit for large employers.
My take: A trillion here, a trillion there…