When to file your taxes: <\/strong>How the timing of you<\/span>r tax return could affect your third stimulus payout<\/span><\/p>\n The losses came as the yield on the 10-year Treasury rose sharply during a question-and-answer session with Powell during which he said inflation will likely pick up in the coming months but the increase will be temporary, and won\u2019t be enough for the Fed to alter its low-interest rate policies.<\/p>\n The yield on the 10-year Treasury note jumped to 1.54% during Powell\u2019s remarks, from 1.47% just before, a significant move.<\/p>\n Treasury yields went as high as 1.50% last week as investors braced for stronger economic growth but also a possible increase in inflation. At the beginning of the year the yield was trading at 0.93%.<\/p>\n As the economy reopens this spring and summer, and vaccines are distributed and the coronavirus retreats, many economists expect a spending boom that will stretch available supplies of goods and services. That will likely push up prices, Powell said.<\/p>\n “Powell is unmoved by a Treasury market sell-off so long as it is not ‘disorderly’\u00a0and does not threaten broader financial market conditions,” economists at\u00a0Mizuho Securities USA, said in a note.<\/p>\n Stocks have kept closely tied with fluctuations in bond yields recently. Yields have been rising along with expectations that the economy, and possibly inflation, could be set to pick up as vaccinations increase and coronavirus restrictions on businesses, travel and schooling begin to lift more.<\/p>\n To be sure,\u00a0inflation gains over the past year have remained modest.\u00a0Even before the pandemic, inflation over the past decade has remained muted. Some experts foresee higher inflation as a positive for investors over the long haul.<\/p>\n “Rising yields could also be a good sign,”\u00a0Lindsey\u00a0Bell, chief investment strategist at Ally Invest, said in a note. “Yields tend to rise early on in bull markets and economic recoveries because the outlook is improving.”<\/p>\n (Photo: Getty Images)<\/span><\/p>\n Wall Street continues to look to Washington, where economic data, comments out of the Federal Reserve and\u00a0President Joe Biden\u2019s stimulus package\u00a0remain key points of focus.\u00a0<\/p>\n The\u00a0Senate is moving forward\u00a0with\u00a0Biden\u2019s stimulus bill, with most of the negotiations now happening between the more moderate Democrats in the Senate and the White House.<\/p>\n Investors are looking ahead to the February jobs report on Friday. Economists surveyed by FactSet expect employers created 225,000 jobs last month. The report also includes numbers for how much wages are rising across the economy, a key component of inflation.<\/p>\n The Fed still sees the labor market as far away from full employment, according to\u00a0Jim Caron, portfolio manager in global fixed income at Morgan Stanley Investment Management. That means\u00a0the central bank is “nowhere close” to tightening monetary policy, he said.\u00a0<\/p>\n Low inflation has helped the Fed keep\u00a0interest rates at record low levels in an effort to help lift the economy out of the recession. The Fed will likely “let the economy run hotter for longer” to extend job creation for lower wage earners, he added.\u00a0<\/p>\n The price of U.S. crude oil jumped 4.2% after\u00a0OPEC members agreed\u00a0to leave most of their existing oil production cuts in place. That helped send energy company stocks broadly higher. Exxon Mobil rose 3.9% and ConocoPhillips rose 3.6%.<\/p>\n![](\"https:\/\/www.gannett-cdn.com\/-mm-\/bbe2e70b2c309b93e709f274c1c5ea3dd9112584\/c=166-0-2833-2000\/local\/-\/media\/2021\/02\/17\/USATODAY\/usatsports\/stock-traders-looking-at-screens.jpg?width=540&height=405&fit=crop\")
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