In advance of Obama’s speech before a joint session of Congress tonigh, the chairman of the Senate Finance Committee says the “public option” (which many view as a precursor to national health insurance) cannot pass the US senate.
Typically, anything that is seen as costraining US government spending tends to boost US equities. The US debt situation is so dire, the one trln projected price tag from health care almost seems like a footnote…The dollar’s slump reflects that already huge debt burden.
EUR/USD is consolidating gains at 1.4565.
