North Korea

Frontrunning: April 28

  • World stocks pause near record highs (Reuters)
  • 'If there's a shutdown, there's a shutdown,' Trump says (Reuters)
  • Trump’s Tax Plan Hits First Land Mine: Blue State Republicans (BBG)
  • Congress to Vote on Stopgap Bill to Keep Government Open (WSJ)
  • Tillerson Seeks to Boost Pressure on North Korea at UN Meeting (BBG)

Global Stocks Pause Ahead Of GDP Report; Nasdaq Hits Fresh Record High

Despite yesterday's whopping beats by Amazon and Google which sent the Nasdaq to new record highs after hours, this morning futures S&P futures are little changed ahead of the closely watched Q1 GDP report, European stocks and Asian equities are slightly lower, oil is higher after Russia said it had reached the 300kbpd oil cut per the OPEC pact, and the dollar was modestly in the red.

Japan Warns Citizens To Prepare For North Korean Missile Attack

As the United States begins to move elements of its Terminal High Altitude Area Defense (THAAD) system to a deployment site in South Korea earlier than expected - in the name of defending against the “evil North Korea” of the mainstream narrative - Japan is warning its citizens they’ll have little time to find safety if Kim Jong-un launches an attack.

China To Test New Weapons, Stage Live Fire Drills In Retaliation To US THAAD Deployment

"The deployment of the THAAD anti-missile system in South Korea damages the regional strategic balance and stability. The Chinese side is resolutely opposed to this. China’s military will continue to carry out live-fire military exercises and test new military equipment in order to firmly safeguard national security and regional peace and stability."

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."