Stocks bounce as earnings in focus; dollar steadies on Mnuchin

US dollar banknotes and coins

While Mnuchin says he still expects tax reform to happen sometime in 2017, there's no guarantee that's realistic either.

U.S. Treasury yields fell as nervousness ahead of France's first round of presidential elections this weekend and ongoing geopolitical tensions boosted demand for safe-haven U.S. debt.

Among the key sticking points is a "border adjusted" plan that would, in effect, tax imports while exempting exports. The IMF also forecast that all five of Europe's largest economies will grow even faster. He said that there could be a difference of close to $2tn in revenues under different economic scenarios, adding that the difference between growth of 1.8 per cent and 3 per cent was "staggering" when compounded. But it was being held up by the pricing out of the bet that the U.S. Federal Reserve would raise interest rates three times this year. The last major tax reform effort-back in the 1980s-took more than two years. "In my mind it's a function of the confidence in the potential of the U.S. economy and the current state of the USA economy, particularly relative to the rest of the world".

Mnuchin had previously said that he wanted to have a massive tax reform bill on Trump's desk by the August recess. Mnuchin said addressing currency swings was "one of the IMF's most important roles".

The IMF's next set of economic projections is due in July.

The Fate of the Furious
He reminds me a lot of The Winter Soldier as he appears in sporadic parts to make life hell for his former teammates. These films are successful because they know exactly what they're about: loud, raw, simple entertainment.

U.S. Treasury Secretary Steven Mnuchin was quoted saying Trump is "absolutely not" trying to talk down the strength of the U.S. dollar in Wednesday's edition of the Financial Times, playing down remarks by Trump in an interview last week when he said the dollar was "getting too strong".

Mnuchin told the Financial Times that he agreed with U.S. President Donald Trump's view that the dollar's strength in the short term was hurting exports, but that he also saw the currency's strength over the long term as a positive.

And while Mnuchin is at least promising to continue fighting for full-blown tax reform, reports are filtering out of Congress about abandoning all the hard work of reform and replacing it with deficit-financed tax cuts. One of the most contentious elements of the Trump plans is the "border adjustment tax" which would apply to USA companies importing products, although Mnuchin has indicated that this is still under consideration.

"SM - I would just say that there's a lot of options".

Related News:

  • The latest from the Shanghai auto show

    The latest from the Shanghai auto show

    Buzz concepts, the Crozz carries minimal exterior adornment, with the exception of strong haunches above the wheel arches. It offers on-demand all-wheel drive, but the bigger rear motor gives it more of a rear-drive feel.
    Saudi officers killed in helicopter crash in Yemen

    Saudi officers killed in helicopter crash in Yemen

    Saudi Arabia has led a coalition battling Iran-backed Huthi rebels in its impoverished southern neighbour for the past two years. Multiple rounds of U.N-brokered peace talks have failed to bridge the gap between the warring parties in Yemen.
    Emirates Cuts Flights to U.S. Following Drop in Demand

    Emirates Cuts Flights to U.S. Following Drop in Demand

    Although both moves were blocked by USA judges, some passengers have been deterred from travelling. Although both moves were blocked by US judges, some travelers have been deterred.
  • Dana White: Jon Jones' Return Fight Will Not Be A Main Event

    Dana White: Jon Jones' Return Fight Will Not Be A Main Event

    UFC 210 was full of controversy and head scratchers in different areas, and Twitter was all over every aspect of the night. The Olympian talked about his fight before stating how he hoped that this was not Johnson's last fight in the UFC .
    Facebook Announces New Hi-Tech Features At Annual Developers Event

    Facebook Announces New Hi-Tech Features At Annual Developers Event

    "For those of you watching us roll out cameras (read copying Snapchat) across all our platforms, that was act one". These places include everything from public spaces and parks, to restaurants, stores and other local businesses.
    Boston Bruins vs. Ottawa Senators - 4/19/17 NHL Pick, Odds, and Prediction

    Boston Bruins vs. Ottawa Senators - 4/19/17 NHL Pick, Odds, and Prediction

    The Boston Bruins will receive a boost to their blue line on Wednesday night with the return of Colin Miller . The three goals were scored on just seven shots in the period, the Bruins with just 10 through two.
  • Shorten says axing 457 visa a 'con-job'

    Shorten says axing 457 visa a 'con-job'

    The ministry also added that it's in touch with Australia as well regarding the changes in that country's work visa programme. More than 17.5 per cent, or 24,236 were from India followed by Britain, with 20,583 and the Philippines, with 8996.

    French candidates boost security ahead of tense vote

    The big surprise here would be Le Pen's failure to make it to the run-off, confounding years of opinion polls. Now Fillon polls in third, or arguably fourth place, because of a nepotism scandal involving his wife.
    Barcelona in tricky position to produce another comeback

    Barcelona in tricky position to produce another comeback

    Fortunately for the Brazil right back, the opening move planned by Barcelona to send a long ball into his defensive zone flopped. Messi tumbled face first into the turf, and showed a small scratch that bled on his cheek once he got back on his feet.
  • Pence: US won't rest until N. Korea gives up nuclear weapons

    Nevertheless, the US reportedly directed two additional aircraft carrier groups toward the Korean Peninsula this week. Pence is on a 10-day Asia trip that will also take him to Indonesia and Australia.
    Ichiro authors ideal  ending to potential final game in Seattle

    Ichiro authors ideal ending to potential final game in Seattle

    Haniger extended his hitting streak to 13 games with three hits as the Mariners closed out their only homestand of April 6-3. Again the Mariners answered when Cruz and Seager opened the bottom of the inning with successive doubles for a 4-3 lead.
    Serena Williams Puts Pregnancy Speculation to Rest

    Serena Williams Puts Pregnancy Speculation to Rest

    A pregnancy would likely end the 2017 season for Williams, who has not played since her Australian Open win, citing a knee injury. Williams and Alexis Ohanian, an American businessman and a co-founder of Reddit, announced their engagement in late December.


Most liked

Chechen men are reporting abuse, arrests and torture by government officials
The Guardian reports that Thursday saw a protest of up to 15,000 people outside a mosque in Chechnya's capital city, Grozny. "When left unchecked, discrimination and human rights abuses can lead to destabilization and conflict", she said .

Turkey electoral board rejects request to annul referendum
Bulent Tezcan, CHP deputy leader, told CNN-Turk the YSK's decision to reject the petitions sparked a "serious legitimacy crisis". This would allow Erdogan to rejoin the governing AKP he co-founded, or to lead it.

Rangers finally win playoff game at MSG, beat Habs to tie series
Jake Guentzel added a goal and an assist to help the defending Stanley Cup champions take a 2-0 lead in the best-of-seven series . On Tuesday night, the Canadiens were looking to take a stranglehold in their first round series against the Rangers .

James Gunn to write, direct 'Guardians of the Galaxy Vol. 3'
Despite the cast being tight-lipped on the plot, it's thought to centre around government-controlled dinosaurs. Following the success of 2015's Jurassic World , fans have been anxiously awaiting its sequel.

Italy's Emma Morano, the world's oldest person, dies at 117
Morano was unable to attend as she had been bed-bound for four years at the time, instead receiving visitors at her home. Emma's slumber routine consisted of waking each morning before 6 a.m. and retiring well before 7 p.m. each evening.

Dubnyk, Wild beat Blues 2-0 to avoid elimination
Dubnyk's second playoff shutout came nearly two years to the day of his first, also against the Blues on April 20, 2015. To Dubnyk's credit, that's exactly what the Wild did in front of its goaltender in Game 4.

Hundreds gather at cenotaph to honour Battle of Vimy Ridge
The centre of the poppy is formed by a newly-unveiled sculpture of pairs of soldiers' feet by New Zealand artist Helen Pollock. Military boots symbolizing dead soldiers are seen at Canadian National Memorial in Vimy, France on Sunday.

Fresno murders investigated as a hate crime
He's also suspected in the shooting death of a white security guard last week. "Kori Muhammad is a very calloused individual". County government buildings were placed on lockdown and residents were urged to shelter in place, according to reports.

Dam managers made missteps in handling crisis
Among other things, the dam's federal and state overseers overestimated the durability of the two spillways. Later that afternoon, Honea, the sheriff, learns the emergency spillway is breaking apart.

North Korea will regularly test missiles
In Tokyo , the Japanese prime minister, Shinzo Abe, said: "Needless to say, diplomatic effort is important to maintain peace". This is all a reaction to a very weird week in relations between the United States and North Korea.

Russell's HR caps 4-run 9th as Cubs top Brewers 7-4
Russell is the youngest Cubs player to hit a walk-off home run since Anthony Rizzo in 2012 according to CSN's Christopher Kamka. After Jon Jay got on with one out, Miguel Montero followed suite with a single to give runners on the corners with one out.

Instagram will soon work offline on your Android phone
Instagram engineer Hendri says offline users will be able to see content previously loaded in Instagram's feed. The mode is primarily aimed at developing countries that often face low or limited data connectivity options.

United Airlines to refund all passengers on infamous flight
Finding none - and no takers for financial compensation - four passengers were selected at random to give up their seats. Monday, United CEO Oscar Munoz sent a letter to employees backing the actions of the crew for following "procedures".

Ex-NFL Player Aaron Hernandez Hung Himself in Jail. He's Dead Now
The going consensus seems to be that Aaron Hernandez's life was looking up; at least as much as it could, given the circumstances. Hernandez's unexpected death followed his acquittal last Friday of a 2012 fatal drive-by shooting in Boston .

New England Patriots sign Mike Gillislee, re-sign Malcolm Butler
That would ostensibly make the deal Cooks and a fourth-rounder to the Patriots in exchange for Butler and a third-rounder. Bill Belichick's decision ultimately rests on New England's chances of re-signing Butler after the 2017 season.