Morning Note - July 14, 2021

Good Morning!

Futures are up nicely this am with the 10-yr down 4 bps to 1.37%. Powell says the Fed is still a ways away from moving off their easing policy. Dems reach an agreement on a $3.5T infra bill to pass via Reconciliation.  When combined with the current bipartisan deal, if both passed, this would add ~$4.1T in net new spending. Bank earnings co…