external-popup-close

You are being redirected to

https://www.ttbbank.com/

Proceed

Democrats' two-step infrastructure plan draws Republican ire

25 Jun 2021

Hours after President Joe Biden declared "We have a deal" to renew the infrastructure of the United States, the Senate's top Republican lashed out at plans to follow the $1.2 trillion bipartisan bill with another measure funding what Democrats call "human infrastructure." Biden and top congressional Democrats had long signaled their plan to link the bipartisan deal with another bill including spending on home health care and child care. The second measure would be passed through a Senate maneuver called reconciliation, which would allow it to take effect without Republican votes. "I expect that in the coming months this summer, before the fiscal year is over, that we will have voted on this (bipartisan) bill - the infrastructure bill - as well as voted on the budget resolution," he said. "But if only one comes to me, I'm not signing it. It's in tandem." Biden told.


U.S. jobless claims dropping faster in states ending federal benefit
Ongoing claims for U.S. unemployment insurance have dipped faster in recent weeks in states ending federal benefits this summer than in states keeping the $300 weekly supplement in place until the fall, according to government data through last week. From the week ending May 1 through the week ending June 12, continuing claims for state unemployment benefits fell 17.8% in the 26 states ending benefits early, to 990,000, and by 12.6%, to 2.18 million, in the rest of the country. The data do not yet answer the larger and arguably more important question of whether hiring will also accelerate in those states, the outcome an almost all-Republican group of governors says is the goal of cutting the benefits early.


China market regulator says will step up supervision on credit in key sectors
China’s central bank is a step ahead of its U.S. counterpart in reining in its Covid-19 emergency stimulus, relieving potential market pressure from the Federal Reserve’s looming shift in policy. The People’s Bank of China has already started curbing credit growth to tackle debt risks, although it’s doing so gradually to avoid stalling the economy’s still uncertain recovery. Consumer inflation also remains tame despite the recent surge in factory prices. It’s a different backdrop to the U.S., where record fiscal stimulus is driving up growth projections and prices are rising faster than expected. The Fed is now debating when it can begin scaling back its bondbuying program and possibly start raising interest rates.


Dollar firm as traders brace for U.S. inflation data
The 10-year government bond yield (interpolated) on the previous trading day was 1.83, -2.00 bps. The benchmark government bond yield (LB31DA, 10.5 years) was 1.795, -0.50 bps. LB31DA could be between 1.77-1.83. Meantime, the latest closed US 10-year bond yields was 1.49%, -1.00bps. USDTHB on the previous trading day closed around 31.87 Moving in a range from 31.74-31.85 this morning. USDTHB could be closed between 31.75-31.85 today. Meantime, The U.S. dollar held near multi-month highs on Friday as investors warily awaited U.S. inflation data.

Sources : Bloomberg, CNBC, Investing, CEIC