European markets head for higher open, buoyed by positive sentiment

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European stocks are expected to open higher on Tuesday, buoyed by hopes that an economic recovery following the coronavirus pandemic is not far off.

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Former Federal Reserve Chair Yellen will tell the Senate Finance Committee on Tuesday that the country is headed for a major recession unless they "act big," according to a copy of her prepared remarks obtained by NBC News.

"Neither the President-elect, nor I, propose this relief package without an appreciation for the country's debt burden. But right now, with interest rates at historic lows, the smartest thing we can do is act big. In the long run, I believe the benefits will far outweigh the costs," Yellen will say.

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It has nothing to do with sentiment, it is all about cheap money everywhere. It is better to have asset than having toilette paper money in the bank, period. Until the banks start restrict the cheap borrowing, all markets will go up.

Totally agree with Janet Yellen.

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