A bill just cleared Congress which will extend unemployment benefits for an additional 14 weeks to as many as 20 weeks and which includes the extended and expanded home buyer tax credit just passed the House after passing the Senate yesterday 98-0. The bill comes with a $24 bln price tag.
Markets are in a sort of random walk this afternoon with flows very light and modest position adjustment seen ahead of the employment report tomorrow morning. EUR/USD trades at 1.4863 despite the S&P trading on a very firm footing. Oil is less robust, down 0.75 to 79.65. Gold is steady at $1090.
