US Treasury Sec. Mnuchin: Next coronavirus bill can be passed by end of July

US Treasury Secretary Mnuchin said on Thursday that the next coronavirus stimulus legislation can be passed by the end of July.

"Any extension of the PPP will be much more targeted to businesses that need money," Mnuchin told CNBC and reiterated that the supports another round of economic impact payments. "Vast majority of PPP loans above $2 mln will be forgiven."

Market reaction

These comments had little to no impact on market reaction. As of writing, the Nasdaq Composite was up 0.65% on the day and the S&P 500 was down 0.1% at 3,166.