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Next week's FOMC meet might give first hints of taper: Stephen Innes, AxiCorp SECTIONS Last Updated: Mar 12, 2021, 10:25 AM IST Share Synopsis "$1.9-trillion stimulus to drive economy up and also push yields higher, bringing forward rate hike expectations. That is why we have seen a quieter melt up cycle.” ETMarkets.com AxiCorp. The $1.9-trillion stimulus is done and dusted. There is further good news of the ECB ramping up on buying. Lots are going on to pump prime the economy right now. What will be the implications of the stimulus on inflation or growth? The US market is still getting driven by the lingering inflation fear. Things are settling down despite the fact that the 10-year bond yields are still above 1.5% and looking to go higher. The stimulus is going to drive the economy stronger but it is also going to push yields higher. This is a fundamental consequence and this is where the wall of worry is centring on. It is bringing forward rate hike expectations and this is why we have seen a quieter melt up cycle.
Here are key COVID-19 economic relief provisions that have been passed by House committees, including $1,400 stimulus checks for many Americans, a boost to federal unemployment benefits and an extension of the 15% increase in food stamp benefits.