Weekly Market Commentary
December 21, 2020

Santa Claus and The Market News

The Markets

Happy Holidays and Good News! Despite supply chain issues for the Elves this year, Santa will be making his rounds on schedule. I was just reflecting on another reason to love Santa. He made overnight free deliveries before Amazon ever existed. I guess that makes him the original internet influencer! Merry Christmas to everyone!

The stimulus auction continued last week and looks like it will pass.

Among other items, policymakers’ plan to deliver new stimulus and fund the government is expected to include:

•    $600 relief checks
•    $300/week of enhanced jobless benefits through early spring
•    $15 billion for airlines
•    $14 billion for public transit systems
•    $10 billion for state highways
•    $2 billion for airports
•    $2 billion for motorcoach, school bus, and ferry industries

The Federal Reserve met last week, too. It affirmed it will continue to hold rates near zero and purchase $120 billion of bonds every month.

Focus On Santa 

“Of course there is a Santa Claus. It’s just that no single somebody could do all he has to do. So the Lord has spread the task among us all. That’s why everyone is Santa Claus. I am. You are. —-Truman Capote