European Central Bank leaves interest rates and QE stimulus unchanged – business live | Business

The real news was Trump working with Democrats. In rare bipartisan deal, Trump, Republicans and Democrats extended the U.S. debt limit and provided government funding until Dec. 15th. Should the Republican-led Congress pass the bill, the 3-month deal would prevent an extraordinary default on U.S. government debt and keep the government funded for the fiscal year starting Oct. 1.

This was a massive first step. True, it was tied to relief assistance for victims of Hurricane Harvey, but still, the path towards meaningful tax reform (and potentially other stimulus) just got a little less steep. We were perhaps premature in writing off the Trump pro-growth, reflation story – a shift to the center, highlighted by this 3-month extension, could be the start of something real. A unified US government could have profound effects on our market outlook.

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