SlateStone Wealth chief market strategist Kenny Polcari weighs in on rising bond yields as they continue to put pressure on the stock market.
President-elect Trump is planning to pursue an ambitious tax cut agenda that extends key parts of his 2017 tax reforms once he returns to the White House next week, but some Republican lawmakers are warning that rising bond yields could hinder those plans.
House Republicans held a closed-door meeting on Capitol Hill, where some GOP lawmakers raised concerns that the cost of extending the 2017 tax cuts, which has been estimated at $4 trillion over a decade, could strain the government’s ability to service its $36 trillion debt — which is already growing at a rate of $2 trillion a year.
“The buyers of our bonds are getting nervous that we’re at the point that we cannot pay it back. That affects every one of us,” Rep. Ralph Norman, R-S.C., told reporters. “If we can’t sell bonds, guess…
