Stocks, Yields, Dollar Surge On News Rubio Is "Yes" On Tax Bill

Zero Hedge Friday, 15 December 2017 ()
Stocks, Yields, Dollar Surge On News Rubio Is Yes On Tax BillAnd just like that, stocks priced in tax reform for the n^th consecutive day, because one day after speculation that Marco Rubio would be a hurdle to the passage of tax reform, which pushed stocks modestly lower, moments ago Fox - or is that Disney - reported that Marcio Rubio is a "yes" on the tax bill, sending risk assets soaring in the latest "buy-everything" euphoria.



Source to FBN: Sen. @marcorubio will be a 'yes' on tax bill. pic.twitter.com/qd4OXaUawR

โ€” FOX Business (@FoxBusiness) December 15, 2017



Rubio's turn comes shortly after Speaker Paul Ryan told the media that the Senate and House are both planning to hold votes on the bill by end-of-day Wednsday with the first vote likely coming in the House Tuesday and the Senate following either Tuesday or Wednesday. Separately, Senator Brady announced that the tax measure is now done, and should win every senator's support.

ยท *BRADY: TAX MEASURE DONE, SHOULD WIN EVERY SENATOR'S SUPPORT*

The result in markets was fast and furious, with the S&P, dollar, yields and the USDJPY all surging following the report.

And putting yesterday's and today's moves in context:



Yesterday - SPX down 10 on news Rubio wont vote yes on principle...

Today - SPX up 17 on news he will vote yes and has no principles.

โ€” DMW (@dmwlsw) December 15, 2017
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Source: CBS4 Miami - < > Embed
News video: Top White House economist predicts Rubio will come around on tax bill

Top White House economist predicts Rubio will come around on tax bill 02:32

 President Donald Trump's top economic adviser said Thursday night he's confident Republican Sen. Marco Rubio will ultimately be a "yes" on the GOP tax bill despite the senator's threat to vote against the legislation