House Republicans advance Trump's tax and spending bill leading to $3.4 trillion debt increase

House Republicans advanced President Trump’s tax and spending bill for a final vote. Big investors brace for market volatility amid wild-card events. US lifts export restrictions to China, impacting energy mix in Vietnam. Is gold becoming a “critical mineral”? Bond market reacts as bill adds $3.4 trillion to US debt over a decade.

As the bill nears approval, analysts predict a $3.4 trillion debt increase over 10 years. 10-year Treasury yields up to 4.25%, 30-year yields jump to 4.8%. Pressure from Trump on Fed Chair Powell continues. Expectations high for today’s non-farm payrolls data, with anticipation for rate cuts in July. Investors wary of governments’ strained finances as UK gilt market faces a selloff. Bond vigilantes may not be dead, just resting.

Investors await non-farm payrolls data. US economic surprises hit 9-month low, with payrolls often missing expectations. Investors less tolerant of governments’ fiscal issues, affecting bond yields. UK gilt market sees selloff after welfare reform U-turn. Fed rate cut odds rise to 25%, economy slows but growth steady. Watch for June employment report to impact July odds. Events today: US payrolls, jobless claims, trade data, PMIs.

Read more at Yahoo Finance: The bond vigilantes are resting, for now