Bonds & Stocks
Long-dated Treasuries fell on Monday as investor attention turned to the US’ ballooning debt after Moody’s Ratings stripped the nation of its last top credit rating. The 30-year yield rose as much as nine basis points to 5.03%, the highest since November 2023.
Economy
A key House committee advanced President Donald Trump’s giant tax and spending package after Republican hardliners won agreement from party leaders to speed up cuts to Medicaid health coverage. The House Budget Committee approved the legislation late Sunday night after a weekend of negotiations with four ultraconservatives on the panel who on Friday joined with Democrats to reject the legislation.
World
As President Lai Ching-te approaches his first year in office, he’s sending a stark warning to the people of Taiwan: If you say anything that threatens the archipelago’s security, there will be consequences.