Just under $3 trillion in stimulus from the U.S. and Germany basically bought two blockbuster back-to-back daily gains for global equities. Risk appetite however could fade as the fiscal policy implementation will likely not be timely in delivering aid and relief. The job market in the U.S. and pretty much all over the world is about to get very ugly.
Earlier, doubts were growing that President Trump would not be signing the stimulus on Thursday. Bernie Sanders said he would derail a quick passing of the bill if Republicans continued their push to change the terms of money to the unemployed. The stimulus package is still expected to pass, but every day it got delayed could have been the difference for someone losing a job or even making ends meet. Checks are expected to arrive for most Americans within three weeks, but that might be too late for many that live paycheck to paycheck.
Congress was expected to learn from the lessons of the Global Financial Crisis that it is…