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Marketplace’s Nancy Marshall-Genzer has more.
Jeffrey Cleveland, chief economist at Payden & Rygel, says this is the result of the Fed keeping interest rates low and expectations that a new coronavirus relief package, if and when it is signed into law, would be funded at least in part by government bonds. “I think you could ask, ‘How are they going to pay for that?’ And the answer would be issuing more bonds,” Cleveland said.