April 26, 2017
Markets showed little reaction to the Trump administration's plans for tax reform, including cutting the corporate rate in half to 15 percent and capital gains by two-thirds to 20 percent. The administration described the plan as "broad brush" with details to be worked out later. The Dow slipped 0.1 percent to 20,975.
The risk of a government shutdown going into the weekend is also not moving the markets, at least not yet. Demand for Treasuries eased on Monday and Tuesday but picked back up today with the 10-year yield down 2 basis points to 2.31 percent. The dollar, which had been slipping, firmed slightly with the dollar index at 98.94. A big draw in oil weekly oil inventories couldn't help WTI which slipped slightly to $49.25.