At the start of the Monday morning trading session the S&P 500 was less than 2% away from a record high.

Global risk sentiment was also lifted amid expectations that global central banks may continue to loosen their monetary policies.

On Thursday, the European Central Bank is scheduled to meet. The big question will they cut interest rates? The market thinks so. Bond traders are closely tracking the outcome and how it may impact yields.

Bob Iaccino discusses this and more on today's "Your Need To Know."

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