Republican-led U.S. House budget panel unveils fiscal 2018 budget plan with reconciliation instructions for tax reform

Market news

18 July 2017

Republican-led U.S. House budget panel unveils fiscal 2018 budget plan with reconciliation instructions for tax reform

Budget plan sets path for partisan repeal of Dodd-Frank Wall St. reforms
Includes $4.02 trillion in outlays for 2018, including $621.5 billion for defense and $511 billion in nondefense discretionary spending
Seeks $203 billion in savings over a decade from mandatory programs including welfare, food stamps

Saudis Considering Further 1m B/D Export Cut: Consultant PPI via BBG @zerohedge

UK 5-year gilt yield falls to lowest since june 28 after weaker-than-expected CPI data, now down 2 bps on day at 0.64 pct

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