Republicans are set to pass the signature bill of their term. It will solidify the corporate tax cut, allow for accelerated write-offs of capital investment (including private jets) and balloon the deficit.
We should see something of a capex boom if/when we ever get clarity on tariff rates.
I suspect the grandstanding was out of the way yesterday and this will pass. The White House has already scheduled a signing ceremony for tomorrow at 5 pm ET.
This article was written by Adam Button at www.forexlive.com.