So to sum up - US testfires a Nuke, Govt Shutdown looms, Trump Tax plan is a wishlist with no details, Canadian mortage lenders collapse, and animal spirits tumble - stocks close unchanged... so we thought this would help...

Bonds and Bullion were bid after the Trump Tax plan was unveiled and banks and stocks sank...

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As Citi noted, while the market isn't jumping around on this but there is a bid in US fixed income, taking USD/JPY down towards 111.00. All in all, a classic buy the rumor, sell the news on an underdelivered (but fairly presented as such) "big announcement" from the Trump Administration.

Trannies fell for the second day in a row, but The Dow, S&P, and Nasdaq all desperately clung to unch amid late day selling...

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Stocks still positive post-French-election...

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But Small Caps ripped to new record highs... because fun-durr-mentals...

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We note that there was a desperate VIX crush after stocks began to sink following Trump's Tax Plan - have to keep the smoke-and-mirrors dream alive... Despite two good runs at trying to break 2,400, they failed...

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Of course all the headlines were surrounding the wishlist of tax Trump's tax reform plan but in the meantime, Canada's mortgage lenders collapsed...

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The Peso and The Loonie tumbled on chatter of a NAFTA withdrawal notice executive order...

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Government Shutdown concerns grew notably once again (despite hope for a stopgap funding bill) with the short-dated curve inverting notably...

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'Animal Spirits' have tumbled to 2-month lows...

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One has to wonder at the market's confidence when 5Y Treasury yields tumble at the announcement of a "pro-growth" tax reform plan...

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In fact the entire Treasury cirve flattened and fell after the tax plan...

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But hey Twitter ripped 10% on the biggest revenue drop YoY since the IPO...

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The Dollar ripped higher to run stops from Trump's "strong dollar" comment bounce but the Tax Plan today sparked selling...

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USD/JPY was today's big mover...

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The machines tried 3 times to juice stocks (via VIX) but each time it fell back to USDJPY's reality...

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On the heels of a bigger than expected crude draw, WTI kneejerked higher but RBOB pumped and dumped as inventories rose...

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Gold ansd Silver were bid (as the dollar sank) after Trump unveiled his wishlist tax plan...

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Finally we thought this was interesting - stock and bond performance since the S&P top in October 2007...

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