Upside again in correlation to the yen, which is relatively weaker than it has been of late. Hang tank hang seng, 8 10 of 1 , a flat end of the session thursday, the nx x the nsx 200 is up. Lets take a look. Positivity with trade talks slated for october, some sort of clarity anyway. Now, the bond rally coming to a halt. This is what we have, 10 basis points to the upside the 10 year yield on the aussie, big yield on that a big move on that one. We have brexit and Boris Johnsons brother resigning from the government and the party, actually. And that again, throwing more down from his strategy once again, taking us further away from a hard exit. As a result we have seen sterling climbing about 3 in three days, down a fraction at a 1. 23. E dollar 23 in this has to do with more risktaking, not as much of a haven, gold silver and platinum gold, silver, platinum also on their way down. Silver down 3. 7 . In the u. S. We have a lot of things which will come after asia, we have jay powell, w
Type tax reform. Today is day two of the Senate Committee review live on capitol hill. This is just getting under way. It collects input from amendments that have been filed. Because of a larm number of amendments we have processed the modified mark will be given to members later today as has been discussed with our Ranking Member and everyone can then have time to read over the modifications. After that process we will resume a markup tomorrow morning with the modified mark. Before we proceed today i want to make a few comments. I appreciate members participation during yesterdays session. I was glad to hear everyones initial thoughts. However a number of issues were raised that in my view werent additional responses. First is a massive tax cut for the rich. That particular claim was repeated by almost every minority member of this committee. The problem with that is that its just not true. J. T. C. s analysis shouldnt be ignored all together. Secondly there was the repeated claim tha
Regulations. Yeah, were going to need lots of regs, based on these proposals, correct . Is that correct, mr. Barthold, theres going to be a lot of regulations with these proposals . Presumably some things go away but there would have to be new notices and new regses to effectuate policies in the mark. In the areas you have mentioned, the new passthrough regime and the shift to a territorial regime with the base erosion protections. And what about deductions. Those are pretty complex also. Theres going to be regs there, right . Actually, theres a number of regulations related to interest deductions now. So that might be a net wash. A net wash. So if you and i were having a friendly beer in a bar, and i wanted to lay a bet with you on whether or not there would be a new book or whether or not we would take away a book, im willing to bet theres a new book. Based on this proposal. Would you take that bet against me . Well, if i may be a little light in answer, the publishers tend to like t
[inaudible conversations] senate reconsider the consideration of the tax cuts in jobs that and begin by walking through with the chief of staff from the joint committee on taxation following the conclusion of this process which will likely take some time it will be provided to members later today. Because of a large number of amendments we have processed a modified mark will be given to members later today and then everybody can have time to read over the modifications. We will reserve the markup for tomorrow morning with a the modified mark i appreciate members participation of yesterdays session and was glad to hear everyones initial thoughts however the number of issues were raised the required additional responses that characterization the bill as a massive tax cut for the rich that particular claim was repeated by almost every minority member of the committee but it is just not true. The committee on taxation has concluded not only does it maintain the tax code but the largest tax
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