Under Pressure From Trump, EU Introduces Corporate Levy Instead Of Digital Tax

The Atomic Crab By Benjamin Picton, senior market strategist at Rabobank The Atomic Crab The Dow Jones hit a fresh all-time high yesterday, surging 1.73% to close at 51,562. The S&P500 posted more modest gains while the NASDAQ closed slightly lower as investors rotated out of some growth-oriented tech names and back towards healthcare and financials with more of a value or cyclical flavor. Treasuries traded in a narrow range to close with yields little changed, while European sovereigns mostly saw modest declines in yields with the slightest hint of bull steepening evident...

Trump Finally Responds To Iran's Demands, Counters US Is Owed "Compensation," Stops Short Of New Threats Summary Trump demands Iran compensate the US and families of fallen soldiers, but issues no new military threats. US again pivots to economic warfare: Trump says Washington is "low-keying it" and betting Iran's economic weakness will force concessions. Iran digs in on Hormuz: Tehran says the Strait will not return to pre-war conditions without major concessions. Hardliners gain influence: Former IRGC commander Mohsen Rezaei is set to take Iran's top security post. Deal remains elusive: Tehran appears intent on...