Daily Market Color March 18, 2020$1T Fiscal Stimulus Package Proposed by Trump Administration Trump Administration proposes $1T fiscal stimulus package- sending rates higher across the curve. The package would still need to be passed by Congress, but would match the other massive stimulus packages suggested by Germany and Italy. Rates rose dramatically as the prospect of fiscal stimulus set the stage for sizeable budget deterioration across the developed world. The 10-year yield ultimately rose 36 basis points on the day to close at 1.08% while the spread between 10-year and 2-year Treasury yields widened to 70 basis points (the highest since 2018). Governments around the world continue to ramp up efforts to curb the outbreak impacts. With over 200,000 confirmed cases in 155 countries, nations are starting to feel the strain. Japan cited that its supply chains have been heavily impacted with imports falling 14% and 47% in goods from China — its biggest drop since 1986. Day ahead. US housing starts rose to 1.599 million from last month’s 1.567 million. Throughout the day, President Trump is set to meet with airline executives, business officials, physicians, and nurses to discuss the outbreak. The White House will hold their daily virus briefing at 11:30 EST.