The U.S. Senate remains embroiled in a marathon session\u2014dubbed “vote-a-rama”\u2014as Republicans push to pass President Donald Trump\u2019s sweeping tax and spending bill. The measure, estimated to add $3.3 trillion<\/strong> to the national debt, is generating concern across global financial markets.<\/p>\n\n\n\n While the Senate struggles to unite on amendments, the U.S. dollar has fallen to four-year lows against the euro<\/strong>, reflecting investor unease over Washington\u2019s growing fiscal deficits. Despite market volatility, bond yields have remained surprisingly stable, raising questions about where the so-called \u201cbond vigilantes\u201d have gone.<\/p>\n\n\n\n The latest assessment by the Congressional Budget Office<\/strong> puts the Senate bill\u2019s impact at $800 billion<\/strong> more than the House\u2019s version. With the national debt already at $36.2 trillion<\/strong>, investors are watching closely for signs that long-term fiscal discipline may erode further.<\/p>\n\n\n\n At the same time, President Trump has floated cutting subsidies<\/strong> to companies like Tesla in an effort to trim federal spending, while expressing growing frustration with the pace of U.S.-Japan trade talks. Treasury Secretary Scott Bessent warned that countries could soon be notified of sharply higher tariffs if trade deals aren\u2019t finalized by the July 9 deadline.<\/p>\n\n\n\n Despite the fiscal noise, bond markets remain calm. Analysts suggest that focus has shifted back to inflation and the likelihood of Federal Reserve rate cuts<\/strong> coming sooner than expected. Softening economic indicators and weak hiring data are reinforcing expectations that the Fed may act by September.<\/p>\n\n\n\n Still, the dollar\u2019s weakness is a stark reminder of investor nervousness. Stephen Jen of Eurizon SLJ Asset Management has argued that beyond the much-discussed \u201cTrump put\u201d for equities, markets may now be experiencing a kind of \u201cTreasury put<\/strong>,\u201d where fiscal expansion is being used to backstop financial stability\u2014at the cost of a ballooning deficit.<\/p>\n\n\n\n Meanwhile, U.S. power sector emissions have already hit a three-year high, with Reuters columnist Gavin Maguire warning that emissions are likely to climb further. The cost of Trump\u2019s fiscal ambitions, it seems, extends well beyond the budget ledger.<\/p>\n\n\n\n As vote-a-rama continues, market participants will be watching for clues about the Senate\u2019s next moves, the fate of tariffs, and the direction of U.S. monetary policy.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Vote-a-rama drags on as markets eye U.S. debt and policy risk The U.S. Senate remains embroiled in a marathon session\u2014dubbed “vote-a-rama”\u2014as Republicans push to pass President Donald Trump\u2019s sweeping tax and spending bill. The measure, estimated to add $3.3 trillion to the national debt, is generating concern across global financial markets. While the Senate struggles […]<\/p>\n","protected":false},"author":10772,"featured_media":12298,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1992,1991,1652,993,330,1986,1990,1993,1987,575,1989,1988],"class_list":{"0":"post-12297","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world","8":"tag-bond-vigilantes","9":"tag-congressional-budget-office","10":"tag-dollar-weakness","11":"tag-fed-rate-cuts","12":"tag-fiscal-deficit","13":"tag-inflation-outlook","14":"tag-senate-budget-bill","15":"tag-tesla-subsidies","16":"tag-treasury-put","17":"tag-trump-tariffs","18":"tag-u-s-debt","19":"tag-vote-a-rama"},"_links":{"self":[{"href":"https:\/\/globalgazette.us\/index.php?rest_route=\/wp\/v2\/posts\/12297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalgazette.us\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalgazette.us\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalgazette.us\/index.php?rest_route=\/wp\/v2\/users\/10772"}],"replies":[{"embeddable":true,"href":"https:\/\/globalgazette.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12297"}],"version-history":[{"count":1,"href":"https:\/\/globalgazette.us\/index.php?rest_route=\/wp\/v2\/posts\/12297\/revisions"}],"predecessor-version":[{"id":12299,"href":"https:\/\/globalgazette.us\/index.php?rest_route=\/wp\/v2\/posts\/12297\/revisions\/12299"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalgazette.us\/index.php?rest_route=\/wp\/v2\/media\/12298"}],"wp:attachment":[{"href":"https:\/\/globalgazette.us\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalgazette.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalgazette.us\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Debt burden and uncertainty weigh on sentiment<\/h2>\n\n\n\n
Markets juggle inflation and interest rate outlook<\/h2>\n\n\n\n
Energy and emissions also in focus<\/h2>\n\n\n\n