Florida

Trump Tax Cuts To Add As Much As $7 Trillion In Debt

"Based on what we know so far, the plan could cost $3 to $7 trillion over a decade– our base-case estimate is $5.5 trillion in revenue loss over a decade.... a $5.5 trillion tax plan would be enough to increase debt to 111 percent of Gross Domestic Product (compared to 89 percent of GDP in CBO's baseline) by 2027."

Frontrunning: April 26

  • Futures flat as Trump tax plan awaited (Reuters)
  • Trump’s 15% Tax Plan May Just Be His Opening Gambit (BBG)
  • Budget Director, After Health-Law Missteps, Preps for Spending Battle (WSJ)
  • 100 Days: Trump's victories dimmed by misfires (Reuters)
  • White House Intervened to Toughen Letter on Iran Nuclear Deal (WSJ)
  • Trump Changing Tactics on Tax After Health-Care Failure (BBG)

Key Highlights From Trump's AP Interview

Following market moving interview with the FT and especially the WSJ, on Sunday the Associated Press released the full transcript from its interview with President Trump. Below, we point out some of the market-moving highlights.

No Obamacare In Most Of Iowa, Tennessee - What Happens? Fallback Plans?

Trump could call up providers and bully them into offering coverage. But does that make any sense from a party that wants to Kill Obamacare? The system is set up to implode and there is no point to doing anything until it does. After an implosion, there will be bipartisan support to do something. Right now there is no bipartisan support to do anything.

The Most Controversial DNA Test You've Never Heard Of

If approved, this new policy would allow police to investigate family members of New Yorkers whose DNA closely matches DNA found at crime scenes...“This creates a dragnet for the entire community now…all of their relatives are possible suspects. It’s a genetic stop and frisk.

WTI/RBOB Tumble After Unexpected Build In Gasoline Inventories

Despite last week's unexpected crude draw (and product draws) WTI/RBOB has faded since (even with a lower dollar) as OPEC production cut questions trump inventories for now. However, prices tumbled immediately after API report a smaller than expected draw in crude (-840k) and an unexpected build in gasoline (+1.37mm) .