Daily Market Commentary

February 22, 2021

Bonds & Stocks
Expectations of more economic stimulus from the Biden administration and positive signs on containing Covid-19 are pushing rates higher globally, with the U.S. benchmark 10-year yield hitting a one-year high of 1.39% in Asia trading.

Democrats begin the final push for President Joe Biden's $1.9 trillion stimulus bill this week, dropping any pretense of bipartisanship to quickly pass the package before an earlier round of benefits runs out.

China urged the Biden administration to take steps to "build up goodwill," including removing tariffs and sanctions, as Beijing continued to put the onus on Washington to repair their fractured relationship.

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