Curiously, not even a hail mary attempt by Bloomberg, which shortly before midnight blasted that "the Trump administration is drafting measures to blunt the economic fallout from coronavirus and help slow its spread in the U.S., including a temporary expansion of paid sick leave and possible help for companies facing disruption from the outbreak" had absolutely any impact on stocks.
Why? Because not only will any fiscal stimulus less than $2-$3 trillion be roundly ignored by the market, but because at this moment there are only two question on every trader's mind: at what time on Monday morning will the Fed announce a 50-100bps emergency rate cut - the second in under a week - and, more importantly, will it include the official resumption of QE, and potentially the launch of helicopter money i.e., MMT.
