Business

Following today's Republican fiasco, where the GOP was unable to gather enough votes to even repeal Obamacare in the House (let alone the Senate) forcing the Republican party to withdraw their healthcare bill, stocks suddenly spiked - if only briefly - on expectations today's bad news is actually good news for Trump's tax reform. As we explained moments ago, that will unlikely be the case far various reasons. But what do others think?

Below, courtesy of Reuters, is a breakdown of select sellside analyst reactions to today's events:

During his 1928 election campaign, President Herbert Hoover defined the 'American Dream' as "a chicken in every pot and a car in every garage."  And while the chickens and cars (courtesy of a massive subprime auto loan bubble) don't seem to be much of a problem these days, for Americans in over half of the largest cities in the country, owning a home is.

Authored by Lance Roberts via RealInvestmentAdvice.com,

In this past weekend’s missive I wrote:

“Speaking of low volatility, the market has now gone 108-trading days without a drop of 1% for both the Dow and the S&P 500. This is the longest stretch since September of 1993 for the Dow and December of 1995 for the S&P 500.

 

Authored by Nick Cunningham via OilPrice.com,

Oil prices are heading down again on swelling U.S. crude oil inventories, with Brent dropping below $50 per barrel for the first time this year.

The OPEC deal that has taken more than 1 million barrels per day of oil off the market has not succeeded in reversing this bearish trend for inventories. And with the deal at its midway point, focus is shifting towards an extension of the cuts through the end of the year.

'Reflation'-themed fund-flows are fading fast (with equities, cyclicals outflows accelerating), and 'higher rate beneficiaries'-linked bond flows (bank loans, HY, inflation protected) slowing to multi-month lows. As RBC's head of cross-asset strategy, Charlie McElligott notes, their model shows the ETF inflow story is no longer a price-driver of short term stock market pricing... "it's a new regime."

McElligott notes the following three key themes remain: