Leaked documents show London critical care bed deficit even under ‘best’ case scenario – report; European Medicines Agency approves Moderna coronavirus vaccine; Japan reports record cases
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US inflation expectations rose on Wednesday in anticipation of more fiscal stimulus after Democrats secured control of the Senate.
With control over both legislative houses now secured, Democrats have more power to advance President-elect Joe Biden’s agenda.
New York Senator Chuck Schumer on Wednesday said sending most Americans $2,000 checks would be a top priority in the new Congress. Still, with the Senate divided down the middle, compromise with Republicans and rightward-leaning Democrats will be necessary for Biden to make substantial changes.
The breakeven inflation rate on the 10-year Treasury Inflation Protection Security (TIPS) - which is typically in line with market expectations of inflation - rose to an intra-day high of 2.092%.
It was last at 2.069%, ending the day at its highest level in more than two years. But the rate was nevertheless just a hair over the Federal Reserve’s target average 2% rate and only slightly larger than moves higher on Monday and Tuesday.
The move in inflation expectations came as the benchmark 10-year Treasury yield broke through 1%, out of recent trading ranges, to its highest since March.
Pandemic stress may be causing people to lose their hair, according to a new study. By mid-summer, rates of a hair-shedding condition called telogen effluvium (TE) had surged more than 400% in a racially diverse neighborhood in New York City, researchers report in the Journal of the American Academy of Dermatology, Reuters reports.
From November 2019 through February 2020, the incidence of TE cases was 0.4%. By August, that rate had climbed to 2.3%, they found. “It is unclear if the increase in cases of TE is more closely related to the physiological toll of infection or extreme emotional stress,” said coauthor Dr. Shoshana Marmon of Coney Island Hospital.
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