Update: Rand Paul attempted to clarify his comments by tweeting:
Tax cuts - people keeping more of their money - are never the problem. The problem is spending. We should obey our rules, stop the deficit spending, and shrink government.
But that seemed to have sparked more selling as it suggests that any bill that increases the deficit is "no" for Paul and thus with reconciliation likely to leave doubts over the debt outcome, Paul may have become a 'no' on the tax bill.
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Just minutes after hope for Senator Cornyn on the tax bill deal sent stocks to new record highs, Senator Rand Paul threw cold water all over the government shutdown budget bill with a tweet, sparking algos to sell on the "Paul says no" headlines.
I cannot in good conscience vote to add more to the already massive $20 trillion debt. I promised Kentucky to vote against reckless, deficit spending and I will do just that. pic.twitter.com/BUYqm91mli— Senator Rand Paul (@RandPaul) December 12, 2017
The reaction from the machines is clear...
Bonds and Bullion are bid...
We suspect the market will bounce right back to the highs as soon as the machines realize this is not a "no" on the tax bill but the budget bill.