US Pres. Biden to name Gene Sperling to lead implementation of COVID-19 relief plan

While assenting earlier reports from POLITICO, Reuters came out with the news during early Monday that US President Joe Biden is considering Gene Sperling for a role to oversee the implementation of his administration’s coronavirus relief plan.

“Sperling had served on the economic teams in the administrations of former presidents Barack Obama and Bill Clinton,” per the news.

Earlier in the day, US Treasury Secretary Janet Yellen crossed wires while suggesting faster recovery due to US President Biden’s $1.9 trillion stimulus.

FX implications

Markets paid a little heed to such news as all eyes are on the US Treasury yields ahead of President Biden’s speech, up for publishing at 17:15 GMT Monday. That said, the recent firming up in the yields weighs on the risks and commodities.

Read: S&P 500 Futures trim early Asian gains as Treasury yields firm up