Headlines discussed at LNWM’s Monday briefing:
— China will allow foreigners to buy controlling interest in Chinese banks, other financials; a historic move.
— The longest US stock market rally in 14 years stalled on signs that corporate tax cuts may be delayed.
— US junk bond prices fell to nearly 7-month lows, as rising yields on less-risky bonds attracted investors.
— The European Union gave Britain two weeks to clarify how Brexit will affect current financial obligations.
— US tax reform is facing resistance for many reasons, including adding $1.5 trillion to deficit over 10 years.
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