U.S Equity Markets rebounded after three straight days of sharp sell-offs. There were no clear drivers, though Senate Republicans unveiled a $650 billion Coronavirus Stimulus Bill that will be funded with $350 billion not spent in the earlier Coronavirus package. In another sign of strong housing demand, MBA purchase applications rose to a near three-month high. Vaccine headlines were mixed. On the positive side, Pfizer’s CEO reiterated that its Coronavirus-vaccine trial, which is being jointly developed with BioNTech, remains on track to submit data for regulatory approval by the end of October. But AstraZeneca and Oxford University placed their COVID-19 vaccine late-stage clinical trial on hold after a serious adverse reaction in the U.K. Ahead of the RCB Meeting this morning European Indices surged. German Finance Minister Olaf Scholz said the government will need to borrow a significant amount of money in 2021 to fund stimulus efforts. Euro-Zone Finance Ministers are said to be preparing to pledge lasting fiscal support for the economy during a meeting in Berlin tomorrow. British Prime Minister Boris Johnson will ban public gatherings of more than six people, down from the current limit of 30, to try and contain a resurgence in Coronavirus infections. Elsewhere, Oil rebounded 3.37% after hitting a three-month low on Tuesday, while Gold closed 0.67% higher on hopes of more Global Stimulus.
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