Equities rejoiced on US Treasury Secretary Mnuchin’s
promise of a tax reform that would come “very soon”. He stressed that
economic growth could be boosted by tax reform to improve business
competitiveness and regulatory relief that would ensure banks can lend.
In addition, he also said that the plan will pay for itself with growth.
The Trump reflation trade was revived overnight with equities, USD and
Treasury yields gaining. Separately, Trump said that he sees a vote on
the health care bill.