Donald Trump has promised groundbreaking tax plans that will be good to business and the US economy. But the Donald is taking his time to get more specific about his plans. After the problems he has had in gaining support for his previous plans on healthcare and immigration, it is not unlikely that even Donald Trump is now aware of the fact that he must take a more cautious approach. Stock investors are getting a bit nervous, however. They already priced in the benefits of the new tax plans. The new US President will need to deliver soon or stock prices will come under pressure in the upcoming months. Yesterday’s presentation of a one-page outline of the eagerly awaited tax plan by Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn was not able to satisfy the hunger of stock investors.
U.S. stocks closed little-changed on Wednesday. Indices had been in the green for most of the day, but the lack of details in the presentation of Donald Trump’s tax proposal appeared to disappoint investors. The Dow ended 0.1% lower, the S&P 500 finished off losing less than 0.1%, while the NASDAQ closed almost unchanged (-0.0%). Volatility was slightly up: the XIV added 0.84%. UVXY ETFs regained some of the lost ground of the previous days, adding almost 2%. XIV ETNs saw a small loss of 0.89%.
Danny Daredevil saw his RSS rise to 320%. His AAR is just below 200% at 196%. Adventurous Anny was still unchanged: her RSS remained at 22%. Solid Suzy and Lazy Larry recorded a small loss and their RSS dropped to 11.5%.
None of our models gave a trading signal at the end of yesterday’s session.
RSS = Return Since Start | YTD = Year-To-Date | QTD = Quarter-To-Date | AAR = Average Annual Return
Meanwhile in Japan
Sleeping on a tatami mat with a three fingers thick (or thin, if you like) mattress separating your back from the floor, may not appeal that much to many Westerners. It just sounds all too spartan to be an attractive alternative for their familiar luxury mattress back home. Fear of sleepless nights and sore lower backs refrain them from trying out sleeping ‘Japanese style’.
But, as you may well know, acting upon fear is a silly thing to do. Needless to say that René slept like a log and felt as sound as a roach this morning. Sure, it may not be everybody’s cup of tea, but as far as René is concerned, the most rejuvenating night’s sleep he got on Japanese beds.
Full of energy, he jumped on his city bike early this morning, to freeze some moments of urban life in the streets of Hiroshima. Below a small selection of the images René shot today.
She stood there motionless. René was in doubt for a moment, but decided she was probably real
School trip to Peace Memorial Park. Learning history by their guide
Riverbench followed by its shadow