This week in markets focus tax reform Trump

This week in the markets focus tax reform Trump

On the last Friday symposium in Jackson Hole, investors, as expected, did not receive from the heads of the Fed and the ECB for clarification on how to proceed with regard to monetary policy. However, some members of the leadership of the Federal Reserve, who spoke earlier, supported the start of reduction of the volume of assets on the balance sheet of the Central Bank and another rate hike before the end of the year.

In turn, Yellen expressed concern about easing regulation of banks, which offered Trump, noting that any attempts to weaken the regulation should be limited and aim at increasing the stability of big banks.

Also on Friday, Finance Minister Steven Mnuchin, said the United States will raise the debt ceiling in a timely manner, in September.

This week the market‘s attention will be focused on one more effort to implement tax reform Trump. In light of the fact that all previous initiatives of the President met with stiff resistance from the Congress, it is possible that another attempt can result in failure and trigger a new round of decline in world stock exchanges.

In the last oil price trading session rose on investors’ anxiety about strengthening the hurricane in the United States, which contributed to disruptions in production and refining. In addition, the positive dynamics "black gold" influenced by these companies Baker Hughes, which reported a decrease in the number of oil rigs into four pieces to 759 pieces.

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