United States

President Trump’s economic plan will create 25 million new jobs in next decade, “return to 4 percent annual economic growth,” "lower rates for Americans in every tax bracket, simplify the tax code, and reduce the U.S. corporate tax rate” according to a statement just posted on the White House wesbite.

He has also proposed “a moratorium on new federal regulations and is ordering the heads of federal agencies and departments to identify job-killing regulations.”

Following Trump's swearing in, his speech marked a notably anti-establishment tone and that has smacked US equities lower...

• *TRUMP: WE'RE TRANSFERRING POWER FROM WASHINGTON TO `THE PEOPLE'

• *TRUMP: ALL DECISIONS ON TRADE, FOREIGN AFFAIRS, TO BENEFIT U.S.

And the peso tumbles...

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Republicans, Democrats, and Voodoo Economics

Written by Jeff Nielson (CLICK HERE FOR ORIGINAL)

When looking at the latest weekly fund flows, it is clear that the Trump trade is over if only for the time being. As BofA reports, citing EPFR data, the last week saw the largest precious metal inflows in 5 months ($1.3bn), the 4th consecutive week of bond inflows ($4.5bn), and a week of modest $1.7bn equity inflows, however US stocks saw $2.5 billion in outflows, representing the 4th weekly outflow in the past 5 weeks.

Some highlights from BofA's Michael Hartnett:

With markets focused on today's events in Washington, culminating with Trump's inaugural speech, here’s a look at the key scheduled events for Friday, Jan. 20 (all times Eastern).

What to Watch

• Inauguration of President-elect Donald Trump at U.S. Capitol
• Friday is a holiday for federal workers in the Washington area, economic data will be delayed
• Possible Trump executive actions
• Senate confirmation votes on Cabinet nominees

White House