Politicians Grapple With Higher Rates Ahead Of Midterms

Summary

Scarlet Fu and Josh Wingrove discuss how high Treasury yields and affordability issues are surfacing in midterm politics. Wingrove explains that Republicans are wary of criticizing Trump on costs, while his proposed $5,000 dividend check could add a large fiscal line item. He also notes bond market sensitivity and weak Republican turnout concerns.

• Ten-year Treasury yield is holding at a three-year high and raising affordability concerns.
• Republicans are linking housing costs to immigration and calling for lower health care costs.
• Trump proposed a $5,000 "Trump dividend" for every American adult.
• The $5,000 payment could exceed $1 trillion, against a budget deficit near $2 trillion.
• Trump has historically responded to bond market pressure.
• Growing Republican concern about rates and borrowing costs includes Ron DeSantis.
• Republicans are hoping the $5,000 check boosts turnout with Trump absent from the ballot.
• Polls suggest House and Senate races may be competitive, including Texas.