But this vote paves the way for lawmakers to start writing the actual bill, which will have to combine Senate priorities with $1.5 trillion in spending cuts promised today.
The shift in leadership lately has been towards higher spending and deficits, with leadership and the White House appearing to tilt in that direction. I don't think that's going to help the long end, which is now near the highs of the day. US 30-year yields are up 2 bps to 4.81% after falling as low as 4.68% earlier.
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