President Trump Speaks
The US President Trump is due to make his first address a joint session of the Congress and lay out the future plans of his Administration. More specifically, he will talk about curbing immigration flows, cutting taxes, abolishing regulations, banning the Affordable Care Act, pulling out of multinational trade agreements and spending more on defense and homeland security.
This event is expected to provoke a backlash reaction, as the markets have been waiting for the details of Trump’s tax plans for weeks. Some market strategists note that if Trump’s speech lacks substantial details about his plans, the markets’ reaction will be negative. As New Treasury Secretary Steven Mnuchin said in his interview on Sunday, Trump will be “touching on tax reform in his speech”. So, we believe that the wording “touching” supposes that Mr. Trump’s speech will be long on rhetoric, but short on details.