President Joe Biden speaks from the State Dining Room following the passage of the American Rescue ... [+] Plan in the U.S. Senate on March 6. Yields on the 10-year Treasury, whose sudden resurgence has spooked investors in recent weeks, jumped another 4 basis points after the Senate's Saturday passage of Biden's $1.9 trillion stimulus plan, marking their highest levels in nearly 14 months. The economists think rates will continue to push higher this year, making valuation risk for "richest stocks... a live issue." Key BackgroundThe American Rescue Plan passed in the Senate on Saturday in a 50-49 vote with no Republican support. Further ReadingSenate Passes Biden's $1.9 Trillion Covid-19 Relief Bill: $1,400 Stimulus Checks, $300 Weekly Unemployment, Child Tax Credit And More (Forbes)

Source: Forbes March 08, 2021 14:37 UTC