Big in Business: Trump v the WTO
The Trump Administration is circulating a report outlining the goals and methods of its trade policy. It keeps open the possibility that the U.S. would ignore World Trade Organization rulings that work against America's favor, and potentially engage in practices prohibited by the WTO if those methods give the U.S. the leverage it needs to open foreign markets.
Interest on debt heads higher: Yields on 2-year Treasury bonds rose to their highest rate since 2009 on Wednesday, as investors bet that an accelerating economy will cause interest rates to rise. But this also means that the feds are paying more to borrow money. Rising rates are what the CBO assumes in its budget projections, which should not comfort Republicans if they are considering deficit spending as one way to pay for the President's ambitious agenda:
Source: Congressional Budget Office
Soaring markets: Stocks had their best day of the year on Wednesday on optimism that the President will achieve much of his stimulative agenda given the political skill he showed in his Tuesday speech. The Dow Jones rose 303 points of 1.46% on the day, with the S&P and Nasdaq each gaining 1.37%% and 1.35%, respectively.