US Treasury Sec. Mnuchin: Looking at all options on energy independence

US Treasury Secretary Steve Mnuchin recently crossed wires, via Reuters, while saying to check all available options to ensure energy independence. The Trump administration member also said that the latest coronavirus bill might be the last tranche of money for small businesses.

Key quotes

I think this will be the last tranche of money for small businesses but more could be added in the future.

It is premature to say how much Phase 4 of relief will cost.

Broadband, infrastructure important for Phase 4 relief.

Looking at all options on energy independence

Negative oil trading was pretty extraordinary.

Over one million companies with less than 10 workers getting loans.

The intent for the loan program not for big companies.

FX implications

Despite being not so strong catalyst for the markets, the risk-off sentiment pauses the release. As a result, the S&P 500 Futures part ways from Wall Street close while marking 0.33% gains to 2,740 by the press time of early Wednesday morning in Asia.

• US President Trump: 20 states moving along pretty quickly towards reopening

• CME to allow listing of negative oil options effective from April 22

• US Senate passes $484 billion coronavirus relief package