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Investors will get temporary relief from falling Treasury yields this spring, market forecaster Jim Bianco predicts

Finance
Investors may get a break from the market's wild swings.Wall Street forecaster Jim Bianco expects stocks to get a boost this spring because the benchmark 10-year Treasury Note yield will temporarily retreat."The near-term forecast is it's oversold, and it's probably due for a rally – meaning that we would have falling rates," the Bianco Research president told CNBC's "Trading Nation" on Friday.He predicts the drop will benefit the indexes, including the tech-heavy Nasdaq which has gotten rocked by rising rates in the past month. The Nasdaq is particularly vulnerable to rates because technology is considered a long duration asset like Treasurys."The stock market will definitely act like it's a relief," Bianco said.The 10-year yield closed the week at 1.70%, and it's up almost 89% so far thi...

Covid relief bill may trigger $36 billion cut to Medicare, higher student loan fees

Finance
Bill Clark | CQ-Roll Call, Inc. | Getty ImagesA Covid relief bill backed by Democrats could trigger billions of dollars in cuts to Medicare and other federal programs, like ones that support unemployed workers and student-loan borrowers, if it's ultimately passed.The funding cuts would take effect in 2022 and last for several years.Republicans are using the specter of pullbacks to argue against issuing more pandemic aid, which includes $ 1,400 stimulus checks and more jobless benefits.More from Personal Finance:Stimulus bill would make health insurance more affordable for millionsThe $ 15 minimum wage is in trouble. Here's what to knowTexas judge finds national eviction ban unconstitutionalIt's unclear lawmakers would allow them to occur. Even if they survive, the exact impact of cuts on...
Coronavirus: Biden’s $1.9tn Covid relief bill passes House vote

Coronavirus: Biden’s $1.9tn Covid relief bill passes House vote

World
Getty ImagesPresident Joe Biden's $ 1.9tn (£1.4tn) relief plan to help Americans during the Covid pandemic has been approved in the House of Representatives.The vote was along partisan lines. Two Democrats joined Republicans - who see it as too expensive - in opposing it.The bill must now go to the evenly-divided Senate, which has already blocked a key element - doubling the US minimum wage to $ 15 an hour.The package seeks to boost vaccinations and testing, and stabilise the economy.Biden's Covid stimulus plan: It costs $ 1.9tn but what's in it?Can Biden succeed in economic rescue mission?How the pandemic has changed the world economyThe cash would be extended as emergency financial aid to households, small businesses and state governments. Unemployment is close to 10%, with some 10 milli...
Dems near relief bill OK by House, ponder wage plan rescue

Dems near relief bill OK by House, ponder wage plan rescue

Technology
WASHINGTON -- A $ 1.9 trillion package aimed at helping the country rebuild from the pandemic seemed headed toward House passage Friday, even as Democrats searched for a way to revive their derailed drive to boost the minimum wage.A virtual party-line House vote was expected on the COVID-19 relief measure, which embodies President Joe Biden's push to flush cash to individuals, businesses, states and cities. The White House issued a statement reinforcing its support for the new president's paramount initial goal.“The bill would allow the administration to execute its plan to change the course of the COVID-19 pandemic," it said. “And it would provide Americans and their communities an economic bridge through the crisis."Republicans have lined up against the plan, calling it an overpr...
House expected to pass $1.9 trillion COVID-19 relief package Friday

House expected to pass $1.9 trillion COVID-19 relief package Friday

Business
Feb. 26 (UPI) -- The House is expected to pass President Joe Biden's $ 1.9 trillion coronavirus stimulus package on Friday, hours after the Senate parliamentarian ruled that a $ 15-per-hour national minimum wage can't be included. While House Speaker Nancy Pelosi said the minimum wage provision will remain in the House bill, the Senate ruling Thursday essentially ends the possibility that it will be included in the final version. Advertisement Biden has called the package the American Rescue Plan and several Democratic lawmakers have said the minimum wage hike is a key part of the bill. Because Democrats have used a process called budget reconciliation to pass the legislation, there are limits for what can be included. On Thursday, Senate parliamentarian Elizabeth MacDonough ruled that th...