Market Snapshot March 8, 2021


Good Monday AM,


The Senate approved a watered down version of the $1.9T stimulus package which now goes back to the House for approval. As long as the vote remains over party lines, it is expected to pass. The Dow and S&P are higher on the news, but the tech heavy Nasdaq continues to struggle as is has for the last few weeks. Bonds not doing as well. The 10-yr is at 1.60% and likely heading to 1.7% at some point. Longer term, I expect it to come back, but as we were unable to break through the 1.38% line in the sand over the last two weeks, we will need to wait for the pendulum to swing back to a more bullish bond sentiment. I would expect this to happen, at the latest, when the Fed mentions controlling the yield curve through additional bond purchases. With the current volatility (which I do expect to continue), I would recommend locking sooner than later.


Please remain safe and healthy, make today great!