Thin markets and flows dominate
Trump signed the stimulus agreement late on Sunday, avoiding a tail risk and boosting S&P 500 futures by 25 points. Tomorrow is the last day for tax loss selling so that's an important spot to watch this year.
The early moves in gold and risk assets aren't as inspiring as they were initially but that's the nature of trading at this time of year. Goldman upgraded its Q1 GDP forecast to 5.0% from 3.0% on the stimulus passing.
In FX, sterling isn't getting any help from the Brexit deal as market participants highlight some of the drags in the text.
On the calendar, we get the Dallas Fed and US auctions of 2s and 5s. Don't expect market reactions. Canadian markets are closed today for Boxing Day.
