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Over in China, services sector growth has slowed to a ten-month low as the pandemic continued to hit demand.
“Service providers were generally optimistic about the economic recovery, and were especially confident that both the domestic and overseas epidemics would fade.”
China Caixin services PMI extend decline for the third consecutive month, to the lowest since May 2020, as the growth of supply and demand in the service sector continued to slow down, employment situation deteriorated and inflationary pressure increased.#PMI #services pic.twitter.com/4FqxDCphc5
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More than a year into the Covid-19 pandemic, the prospect of more government spending continues to support the financial markets.
One reason late nights are expected and that will make the job of Democratic leadership more challenging is that senators are walking into a legislative minefield later this week since the relief bill is being considered under budget reconciliation rules that allow a free-flowing amendment process, meaning senators can force votes on as many amendments as they like.
That means if two Democrats break ranks, they could amend the bill with the backing of 49 Republicans.