Politics

The arrival of Mike Flynn's replacement, Gen. H.R. McMaster as Trump's new national security advisor could mean sweeping changes of the White House foreign policy team, giving him control of Homeland Security and guarantee full access to the military and intelligence agencies. In a report by the NYT, Mr. McMaster is said to be weighing changes to an organization chart that generated consternation when it was issued last month.

Concerns about Trump's tax cut plan - arguably the biggest catalyst behind the market's daily record highs - are mounting.

Yesterday, when discussing the rising opposition to a simple "repeal and replace" of Obamacare, Goldman Sachs explained that any turbulence in resolving the Obamacare problem would spillover into other domestic policy targets, most notably tax reform, to wit:

Over the weekend, following reports that China has banned all North Korean coal imports - in the aftermath of last week's North Korean ballistic missile launch- which marked a troubling escalation in relations between the two formerly "amicable" nations, we discussed how China was tipping its hand that not only was Kim Jong-Un potentially losing a "very big ally", but that it could also lead to "jeopady" for his regime, and a potential political coup in the generally unstable dictatorship.

While bookmakers' odds are unchanged for a Le Pen victory, French bond yields have tumbled to one-month lows as the prospect of a centrist alliance in the country’s presidential election eased market anxiety that far-right candidate Marine Le Pen will win.

Today at 10:30am, president Trump will summon some of America’s most prominent corporate executives to the White House Thursday, in a roundtable brainstorming session whose purpose is to come up with policy ideas meant to facilitate trade and taxes, boost job creation and generally jump-start the US economy.