People to get health insurance, and a phaseout of the tax cuts. Sahilget the report from kapur, and josh green. Josh is the author of doubles bargain, devils chronicling the rise of steve bannon. Sahil, lets start with you. Is the house coming closer together . Certainly changes take the senate further apart from the house bill. You have a series of its deep cuts that steep tax expire for december 31. To rate was cut from 35 20 . This is going to be a political problem. The optics do not look good. The obamacare individual mandate being repealed, how wide is it for them to bring back this issue . It makes obamacare mixes obamacare with tax reform. Republicans decided this was necessary because they needed. 300 billion in budget saving. Problemare has been a that has bedeviled republicans in congress, but also because if you look at the democratic route , this elections last week takes health care and injected into tax reform. David this was a matter of saying, some of these tax cuts ar
That is what ive been hearing. Lets look at the risk off tone in europe that is being hit the hardest. We are now at eight straight down days and have not seen that kind of streak since 2014, the dax hit particularly hard. A bit of a safe haven bid as far as bund yields. That does not feel like a risk off move in bunds. The dollaryen down 6 10 of 1 . The bloomberg Commodity Index down 3 10 of 1 . Not just oil and copper, the base metals across the board hurt. David now we turn to emma chandra. Emma Senate Republican leaders may have made tax reform a little more complicated. They decided to add repeal of the obamacare individual mandate to their tax package to help them meet the fiscal target but will change the vote calculations in the senate and house. Twice the senate tried and failed this year. The russians have agreed to restructure more than in venezuelan debt. The Credit Rating firm declared venezuela and its state oil company to be in default after missing payments. In zimbabwe
Rig count at 1 00 p. M. Eastern time. Our road map begins with a big set back for Prime Minister may. Yesterdays snap election ending in the Hung Parliament. What does it mean for the looming brexit talks . Plus, stock futures are pointing to new records as investors shake off that political turmoil in the uk and back here in washington, d. C. And complete vindication, thats the take away from the president on the testimony by comey but the reality may be a bit murkier. Well talk about that. But first, the uk is the lead. Mays conservative party lost the majority after the election. Resulting in a Hung Parliament meaning no party has the 326 seats that are necessary for an outright majority. May had called for the snap election in the hope of strengthening her hand in brexit talks after her meeting with the queen, the Prime Minister spoke about forming a Coalition Government. What the country needs more than ever is certainty. And having secured the largest number of votes and the grea
Production. Global bond meltdown. The bull market in bonds is ending with a bank. As global bonds suffered their worst slump last month. Investors look to dump their debt after donald trump won the election. Bracing for swings. It euro volatility is the highest since brexit. The European Central policy decision coming up next week. You have burned up 13 in just two days. Brent up 13 in just two days. The big surprise come iraq cutting 210,000 barrels of a day. As the focus in vienna moves from the deal into specifics. Marty schenker joins us now in london. What is the biggest question as traders wake up this morning . Firstly, you mentioned iraq. Iraq had been the biggest stumbling block. They have a quota again and they agreed to cut production. Many will be interesting to see if they are willing and able to do that. Secondly, russia. Russia pledging an actual cut of 300,000 barrels a day. One of the reasons we saw oil rally so strongly. Will russia really deliver . This never done an
About the potential market impact. Togan stanley says you want buy a dollar papal calls that. David i dont think people are taking donald trump seriously, and its really getting narrow. Jonathan do you just go to cash in setback and we do see what happens . If you could pick a winner at this point, what happens after . Theres no consensus. David it also have to do with congress, whether it is split or unified. Alix we will follow this through the next three hours. And the one event oil traders have circled on their calendars, wednesdays informal opec meeting in algiers. Francisco blanch and Vice President of ihs dan juergen. Starting off with the markets, is decidedly risk off in the debate tonight. You may look at equities and europe. The banks of men actually hammered and the flashpoint is on the dax down by 1. 5 in frankfurt. The biggest loser is Deutsche Bank. Another record low for the biggest bank in germany. Some speculation on what that means to the bank Going Forward. Are we r