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View all search resultsA flood of money for Covid-19 vaccines, stimulus checks and unemployment benefits is set to flow into the US economy this week, with Congress's expected approval of President Joe Biden's US$1.9 trillion stimulus package.
The view was bolstered by moves in Washington toward fast-tracking more stimulus spending that contrasted with concerns about extended European lockdowns and expectations for a decline in euro zone growth this quarter.
Asian stocks dipped on Tuesday, retreating from record highs as lingering concerns about potential roadblocks to the Biden administration’s US$1.9 trillion stimulus weighed on sentiment, dragging US Treasury yields to three-weeks lows.
The Biden administration and Democratic and Republican lawmakers discussing a new US$1.9 trillion in coronavirus relief agreed on Sunday that the most important priority should be producing and efficiently distributing a vaccine.
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