Business

In an interview with the FT, Treasury Secretary Steven Mnuchin discussed Trump's "tremendous" tax reform, and confirmed what many already knew: that the push to revise the US tax code has been dramatically slowed by the failure to repeal and replace Obamacare, and conceded that the administration’s timetable for ambitious tax reforms will be delayed. Mnuchin also said the target to get tax reforms through Congress and on President Donald Trump’s desk before August was “highly aggressive to not realistic at this point”.

Authored by Kevin Muir via The Macro Tourist blog,

Today’s post will have no answers. I am not sure anyone truly understands the strange day to day squiggles of the increasingly intertwined global financial system, but I wanted to highlight a relationship that cannot simply be monkeys typing Shakespeare.

April looks set to be the worst month since August 2015 (when China devalued and turmoil spread across the world) for global financial stress.

As Bloomberg reports, rising geopolitical concerns are pushing a gauge of anxiety for global asset classes to this year’s high.

Over the past several years we have repeatedly stated that despite protests to the contrary, the single biggest factor explaining the underperformance of the active community in general, and hedge funds in particular, has been the ubiquitous influence of the Fed and other central banks over the capital markets. 

Following US Vice President Pence's earlier remarks that "the era of strategic patience is over."

.@VP Mike Pence on North Korea: “The era of strategic patience is over.” https://t.co/78WhdfZWfb pic.twitter.com/I3JnAal71I

— Fox News (@FoxNews) April 17, 2017

Ambassador Kim, North Korea's Permanent UN Representative, hosted a news conference in Ryong on "the consideration of non-proliferation in the DPRK to be held in the Security Council on April 28."