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AUSSIE 10-YEAR TECHS

(H1) Fragile Outlook

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Curve Lower, Flatter as Yields Reverse Off Cycle Highs

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MNI (Washington)
WASHINGTON (MNI)

President-elect Joe Biden praised the Federal Reserve Thursday including how it has handled the dollar, noting that low interest rates will allow for further fiscal stimulus.

"Quite frankly the way the Federal Reserve has been approaching, dealing with the dollar has been in a positive direction," Biden said. "Our interest rates are as low as they have been in modern history and I think that is a positive thing. It lends credence to the possibility of us being able to expend the money and deficit spend in order to generate economic growth right off the bat and so I think it has been positive so far."

Biden also said he has picked a Treasury Secretary but will announce it around, before or after, Thanksgiving, adding that the pick will be supported by progressives and moderates in the Democratic Party.

MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com
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