Will Trump's tax plan promises stick with markets this week? - Societe Generale

Kit Juckes, an economist at Societe Generale explained that the story at the end of last week in the US was about President Trump's promise of a tax reform plan that would deliver a ‘massive tax cut'. 

Key Quotes:

"We will, of course, have to wait and see what materialises but it rather begs the question of whether we've also seen the low for now in US yields. Oil prices will however, have something to say on that."

"After Friday's slide and the growing fear that as hard as OPEC tries to stem production, the US can step it up and prevent a big enough fall in inventories to get oil prices any higher."

"As long as they are just bumping around in a range (if not actually trending higher), then I don't think they'll be a drag on the dollar but they bear watching if only because there's still a big speculative long position in the futures market. And we know what happened to shorts in sterling and in T-Notes this year..."