GOP committed to tax reform, risk-on - ANZ

Analysts at ANZ noted that risk sentiment and particularly equities rebounded for a second day after Paul Ryan said the GOP is “united” and committed to tax reform. 

Key Quotes:

"US equities rose, treasuries sold off, the USD was mixed, oil rebounded and gold was stable. Prior to the Ryan comments the market ignored the very strong US consumer confidence, suggesting US politics are still in the driving seat for markets. 

Financials are leading equity gains after being beaten up last week on concerns Trump’s regulation dismantling drive could hit snags, while energy shares are up on the rebound in oil prices. US yields are up a touch, while globally rates moves have been relatively muted. Oil gave up some of its earlier gains related to Libya pipeline woes, with near-dated WTI up 1.4% at the time of writing. Gold spot is currently unchanged at just under USD1,255/oz."