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Health-Care Bill Passes Crucial Vote
12/21/2009
The US Senate passed a crucial test vote for the new Health-Care Bill, as all 60 Democrats voted to curtail debate from Republicans on the $871B measure, and aim to pass the legislation before Christmas. Stocks and commodities are up this morning as investors remain confident that the economic recovery will keep accelerating; bonds are down. Right now, the futures market is pricing in an 86% chance that the Fed keeps rates somewhere between 0% and .25% through April 28th, 2010. Currently, the Ten Year yield is at 3.634%(3.51% on Friday) and the 2-10 yield spread is at 277bps, steepening 5bps since Friday morning.
