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Trump’s tax-cut plans could be slowed by a wary bond market WASHINGTON: Donald Trump’s Republicans are promising to hit the gas next year when they assume full control of the US Congress, with little to stop them from executing the president-elect’s promises to slash taxes and reorder the global trade landscape. But the $28 trillion Treasury debt market is flashing a red warning light against adding excessively to a debt load already expanding at a pace of $2 trillion a year.What is yet to be seen is whether these concerns will be enough to slow Republican lawmakers’ ambitions or push them to find offsetting savings on a tax break agenda estimated to cost nearly $8 trillion over 10 years. Markets are betting that Trump’s tax cuts and tariffs will fuel inflation as investors demand stronger returns on longer-term Treasuries. Yields on the benchmark 10-year US Treasury note have risen to 4.3 per cent, up about 70 basis points since ‘Trump trades’ began dominating Wall Street in September. Trump’s choice of hedge fund manager Scott Bessent as Treasury secretary prompted Treasuries to rally on Monday, erasing some of the recent increase in yields, as market analysts viewed him as a more traditional policymaker who is likely to try to control deficits. Still, the trend is driving higher interest rates for mortgages, car loans and credit card debt, counteracting Federal Reserve rate cuts and potentially putting US growth at risk.It is also raising the cost of financing US deficits and eating up the federal budget. Interest on the public debt topped $1 trillion for the first time during the fiscal year ended Sept 30, making it the second-largest single expenditure after the Social Security retirement programme. “In a weird way, the bond market is now on the verge of running this country,” said Republican Representative David Schweikert, who sits on the House of Representatives’ tax- and trade-focused Ways and Means Committee. The market signals mean there are no “blank checks” for Congress and the tax cuts will need to be paired with spending cuts, he said in an interview. “It is a hurdle in the financing of the US government.” Managing that hurdle will fall to Bessent, who has argued that Trump’s agenda will unleash stronger economic growth that will in turn drive up revenue and boost market confidence. His appointment could also reduce the chance of severe tariffs. The budget math is daunting. Trump has promised to extend the tax cuts passed in 2017, during his first term in the White House, for individuals and small businesses that are due to expire next year, which tax experts say will add $4 trillion to the current $36 trillion in total US debt over 10 years. That’s on top of debt already forecast by the Congressional Budget Office to grow by $22 trillion over the same period, based on current laws. Trump also promised voters generous new tax breaks, including ending taxes on Social Security, overtime and tip income and restoring deductions for car loan interest. The tab is likely to reach $7.75 trillion above the CBO baseline over 10 years, according to the Committee for a Responsible Federal Budget, a non-partisan fiscal watchdog group. GROWTH REVENUE Concern over the bond market’s influence on Trump’s agenda is more the exception than the rule among congressional Republicans interviewed some two weeks after he won the Nov 5 presidential election and his party took control of Congress. Some fell back on the party’s long-held view that tax cuts can pay for themselves with stronger growth - a line that was used to sell Trump’s original 2017 tax cuts. Budget forecasters including the Joint Committee on Taxation have estimated that those cuts added more than $1 trillion to deficits over 10 years. An analysis of economic feedback on extending the tax cuts by the Committee for a Responsible Federal Budget found that increased growth would only offset 1.0 per cent to 14 per cent of the revenues lost directly by the cuts, leaving the bulk to be financed through borrowing. Still, Republican Senator Mike Rounds said he believed the stability and growth that will come from extending Trump’s 2017 tax cuts will allay some market concerns. “What we have to do is show them that we’re going to build an economy so that the ratio between the size of the economy and the debt changes positively in our favor,” Rounds said. MUSK’S CUTS Republican House Budget Committee Chairman Jodey Arrington said accelerating economic growth to more than 3.0 per cent annually -- it’s already on that pace for the third quarter -- would increase revenues by $3 trillion over a decade, but that additional spending cuts would be needed. Rising bond market yields were “a motivating factor to rein in deficit spending”, he said. Arrington and fellow Republican Representative Joe Wilson said they were hopeful the non-government panel led by billionaire Tesla and SpaceX CEO Elon Musk and former presidential candidate Vivek Ramaswamy would be able to find ways to cut the budget, including on “mandatory spending” programmes other than Social Security and the Medicare health insurance program for the elderly, which Trump has vowed to preserve. “With Elon Musk I think we have a real opportunity to actually identify waste and cut things that can be cut,” Wilson said. A key target is rescinding Democratic President Joe Biden’s clean energy subsidies, estimated by the CBO to cost nearly $800 billion over 10 years, and some $60 billion in funds to modernise the Internal Revenue Service, although that would expand deficits in the long run by curbing audits. AGENDA UNCLEAR Republicans in the new year will likely rely on budget procedures that bypass Senate rules requiring 60 of the 100 members in the chamber to agree on most legislation to pass Trump’s tax agenda with a simple majority. Republican Senator Mike Crapo, the incoming chairman of the Senate Finance Committee, said it was too early to determine which tax policies would be included in initial legislation, adding that there was market “misinterpretation of what Trump is doing or going to do”. “A lot of people are saying, well, which tax policies are you going to do?” Crapo said. “And the answer to that is, the ones that we figure out are the right ones.” BOND VIGILANTES Former President Bill Clinton’s political strategist James Carville famously said in 1993 that he wanted to be reincarnated as the bond market, because “you can intimidate everybody”. If Congress’ moves signal too big of a deficit hike, some market analysts are concerned that excess debt issuance will cause market indigestion that drives up yields sharply. “One can’t exclude the risk that trust in US economic policymaking might be lost, the bond vigilantes could come out in full force and pressure rates significantly higher, and the US and global economies could be badly shaken,” said Mark Sobel, a former US Treasury official who is now the US chairman at the Official Monetary and Financial Institutions Forum, a think tank.Noned lucky ones cast 。

Protest dies, conflict survives

Elon Musk calls for abolishing consumer finance watchdog CFPB — a longtime GOP target

Lewandowski joins Ronaldo and Messi in Champions League 100-goal club. Haaland nets 2 but City drawsSwiss National Bank decreased its holdings in shares of Frontier Communications Parent, Inc. ( NASDAQ:FYBR – Free Report ) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 363,900 shares of the company’s stock after selling 2,800 shares during the quarter. Swiss National Bank’s holdings in Frontier Communications Parent were worth $12,929,000 as of its most recent filing with the Securities and Exchange Commission. Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in Frontier Communications Parent during the 2nd quarter valued at about $37,000. Capital Performance Advisors LLP acquired a new stake in shares of Frontier Communications Parent during the third quarter worth approximately $50,000. Blue Trust Inc. grew its position in Frontier Communications Parent by 224,400.0% during the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after purchasing an additional 2,244 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Frontier Communications Parent by 80.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $64,000 after buying an additional 811 shares during the period. Finally, Game Plan Financial Advisors LLC lifted its position in Frontier Communications Parent by 23.8% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock worth $68,000 after buying an additional 500 shares in the last quarter. Frontier Communications Parent Trading Up 0.2 % Shares of NASDAQ:FYBR opened at $34.87 on Friday. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The stock’s 50-day moving average is $35.37 and its 200-day moving average is $30.34. The company has a market cap of $8.68 billion, a P/E ratio of -46.49 and a beta of 1.10. Frontier Communications Parent, Inc. has a 52-week low of $20.42 and a 52-week high of $39.21. Insider Buying and Selling In related news, EVP John Harrobin sold 23,491 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total value of $818,661.35. Following the completion of the sale, the executive vice president now owns 121,182 shares in the company, valued at approximately $4,223,192.70. This trade represents a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink . 1.40% of the stock is currently owned by insiders. Wall Street Analyst Weigh In A number of analysts recently issued reports on the company. Raymond James cut Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. Wells Fargo & Company reiterated an “equal weight” rating and set a $38.50 price target (up from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. Benchmark restated a “buy” rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a report on Thursday, September 5th. Wolfe Research downgraded shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Finally, The Goldman Sachs Group increased their price target on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.31. View Our Latest Research Report on FYBR Frontier Communications Parent Company Profile ( Free Report ) Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services in the United States. It offers broadband, video, voice, and other value-added services. The company also provides data and Internet, including broadband networking services; data-based voice over internet protocol, unified communications, long-distance, and voice messaging services; video services under the Frontier TV brand; access services; hardware and network solutions; and packages of services. Featured Stories Want to see what other hedge funds are holding FYBR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Frontier Communications Parent, Inc. ( NASDAQ:FYBR – Free Report ). Receive News & Ratings for Frontier Communications Parent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontier Communications Parent and related companies with MarketBeat.com's FREE daily email newsletter .

SALT LAKE CITY (AP) — With Mitt Romney set to exit the U.S. Senate, Washington will be without one of its strongest conservative critics of Donald Trump when the president retakes the White House in the new year. At a final news conference Friday in Salt Lake City, the retiring senator reflected on his two-decade political career, which included the 2012 Republican presidential nomination, a term as Massachusetts governor and several skirmishes with Trump loyalists in Congress. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.

Why financial independence matters

Blake Snell and Dodgers agree to $182 million, 5-year contract, AP source saysThese holiday gifts change the game when building fires, printing photos, watching birds and more

SAN JUAN: Gunmen opened fire early Sunday at a bar in southeastern Mexico, killing six people and injuring at least five others, according to local media reports. The attack occurred in the coastal province of Tabasco, which has been grappling with a recent surge in violence. Public Safety Secretary Omar García Harfuch stated on X (formerly Twitter) that the shooting took place in Villahermosa. He also noted that federal authorities are collaborating with local officials to investigate and address the crime. No arrests have been reported, and the motive for the shooting remains unclear. Videos circulating on social media depict people fleeing the bar while some survivors stayed behind to assist the victims as police arrived. Sunday’s attack adds to the wave of violent incidents that have escalated as a new president takes office amid widespread unrest. Earlier this month, another shooting occurred at a bar in central Mexico, claiming the lives of 10 people and injuring 13. That attack took place in the historic city center of Querétaro, a region that had until recently been relatively insulated from the violence plaguing neighboring states like Guerrero.