Stocks, USDJPY Jump On Trump Tax 'Phasedown' Comments

It appears the algos have their 'tax' sensitivity turned all the way to 11...

A brief Bloomberg headline stating no new news at all - confirming that Trump's policy framework did not include a 'phase-in' period for corporate tax cuts - has sent USDJPY spiking and thus stocks rallying...

*TRUMP SAYS `NOT LOOKING' AT PHASEDOWN OF CORPORATE TAX RATE

When asked during a brief press hit, if corporate tax cut will be phased in, Trump replied, "hopefully not."

Buy mortimer...

 

As we said yesterday - this market wants its corporate tax cut and it wants it now!