US market and dollar rally on Trump's 'pro-American' tax reforms

The S&P 500 index closed the day 0.41% higher, approaching a record high by peaking at 2,511.75 yesterday, while bank and tech shares surged on hopes that lower tax rates will accelerate US economic growth. Small caps, which absorb some of the highest US tax rates, saw strong gains, while the Bloomberg Dollar Spot index rose 0.6% to the highest level since August. Meanwhile, 10-year note yields climbed to two month highs, while gold has fallen 1.4% against the dollar. Pound sinks and FTSE soars as May delivers FlorenceBrexit speech Trump's plan proposes to reduce the tax burden ...