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The Trump Administration is circulating a report outlining the goals and methods of its trade policy. It keeps open the possibility that the U.S. would ignore World Trade Organization rulings that work against America's favor, and potentially engage in practices prohibited by the WTO if those methods give the U.S. the leverage it needs to open foreign markets.

Interest on debt heads higher: Yields on 2-year Treasury bonds rose to their highest rate since 2009 on Wednesday, as investors bet that an accelerating economy will cause interest rates to rise. But this also means that the feds are paying more to borrow money. Rising rates are what the CBO assumes in its budget projections, which should not comfort Republicans if they are considering deficit spending as one way to pay for the President's ambitious agenda:

Source: Congressional Budget Office

Soaring markets: Stocks had their best day of the year on Wednesday on optimism that the President will achieve much of his stimulative agenda given the political skill he showed in his Tuesday speech. The Dow Jones rose 303 points of 1.46% on the day, with the S&P and Nasdaq each gaining 1.37%% and 1.35%, respectively.

Go deeper

Biden's Day 1 challenges: The immigration reset

Illustration: Aïda Amer/Axios

President-elect Biden has an aggressive Day One immigration agenda that relies heavily on executive actions to undo President Trump's crackdown.

Why it matters: It's not that easy. Trump issued more than 400 executive actions on immigration. Advocates are fired up. The Supreme Court could threaten the Deferred Action for Childhood Arrivals (DACA) program, and experts warn there could be another surge at the border.

Broncos and 49ers the latest NFL teams impacted by coronavirus crisis

From left, Denver Broncos quarterbacks Drew Lock, Brett Rypien and Jeff Driskel during an August training session at UCHealth Training Center in Englewood, Colorado. Photo: Justin Edmonds/Getty Images

The COVID-19 pandemic has thrown the NFL season into chaos, with all Denver Broncos quarterbacks sidelined, the San Francisco 49ers left without a home or practice ground and much of the Baltimore Ravens team unavailable, per AP.

Driving the news: The Broncos confirmed in a statement Saturday night that quarterbacks Drew Lock, Brett Rypien and Blake Bortles were identified as "high-risk COVID-19 close contacts" and will follow the NFL's mandatory five-day quarantine, making them ineligible for Sunday's game against New Orleans.

Updated 13 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: WHO: AstraZeneca vaccine must be evaluated on "more than a press release."
  2. Politics: McConnell temporarily halts in-person lunches for GOP caucus.
  3. Economy: Safety nets to disappear in DecemberAmazon hires 1,400 workers a day throughout pandemic.
  4. Education: U.S. public school enrollment drops as pandemic persists.
  5. Cities: Surge in cases forces San Francisco to impose curfew — Los Angeles County issues stay-at-home order, limits gatherings.
  6. Sports: NFL bans in-person team activities Monday, Tuesday due to COVID-19 surge — NBA announces new coronavirus protocols.
  7. World: London police arrest more than 150 during anti-lockdown protests — Thailand, Philippines sign deal with AstraZeneca for vaccine.