Biden’s inauguration comes at a time when Donald Trump is losing Republican support, as he faces impeachment. Senate Republican leader Mitch McConnell said that the 45th president, through his lies, contributed to events on Capitol Hill, which could have consequences for the proceedings against the future-ex-president. Meanwhile, Donald Trump left the White House with a speech of appeasement, wishing good luck to the new administration. He is also considering, according to various reports, starting his own party. In any case, Trump managed to never mention the name of his successor in the pre-recorded speech for his departure.

Yesterday, the future Secretary of the Treasury and former head of the Fed, Janet Yellen, contributed to the progress of Wall Street. During the hearing before the Senate Finance Committee, she argued for a major fiscal stimulus. No one really doubted that she would be on the same wavelength as Joe Biden, but the official statement was nonetheless very well received. 

One of the first points to be discussed by investors is Biden’s international policy, particularly with regard to China. His secretary of state Antony Blinken gave the first elements of an answer during his confirmation hearing before the Senate Foreign Affairs Committee. His position towards China is very similar to his predecessor. Like him, he qualifies the situation in Xinjiang as a genocide against the Muslim minority of the Uighurs. Moreover, he adds that China represents the biggest challenge for the United States in the years to come. Blinken said he will spend his first days at the head of American diplomacy looking for ways to ensure that no products from this region are imported into the United States. He went even further, adding that he would like to see Taiwan play a greater role on the world geopolitical stage.

On the data side, December inflation in the United Kingdom and the euro zone, as well as the NAHB real estate index in the United States are released today.