Trump, bill and tax
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The massive budget bill passed by the House includes new tax breaks for tipped workers and those who get overtime.
The cost for a 30-year fixed-rate mortgage crept up to levels not seen since February, reflecting bond market fears over Trump’s plan to pay for tax cuts with an estimated $3.8 trillion in new debt. “Trump and Republicans are directly responsible for the spike in the 30-year Treasury bond yield and mortgage rates,
Bond investors see a lot to be worried about from Washington policy. That could have repercussions for taxpayers.
The House-passed bill includes a large tax cut, as well as more money for defense and immigration enforcement, financed in part by slashing health, nutrition, education and clean energy programs.
President Trump's tax plan has sparked concern among investors, driving Treasury bond yields to a nearly two decade high, amid growing worries over U.S. debt.
1don MSN
A global bonds selloff is accelerating on the heels of a U.S. Treasurys rout. "Markets do not find Trump's "big, beautiful tax bill" beautiful at all," an analyst said. Unease with worsening fiscal trajectories is driving the global bond selloff,
A top Federal Reserve official said the steep cost of President Trump’s major policy bill caught the bond market off-guard, leading to a spike in U.S. interest rates. In a Thursday interview, Federal Reserve Gov.