It is the 27th of April 2017

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NY Teamsters Pension Becomes First To Run Out Of Money As Expert Warns "Pension Tsunami" Is Coming

The New York Teamsters Road Carriers Local 707 Pension Fund has won the unfortunate award for "First Pension to Officially Run Out of Money."  According to the New York Daily News, and a host of angry former truck drivers who've had their pension benefits slashed, the Pension Benefit Guaranty Corp. (PBGC) has officially been forced to step in and take over payments to retirees of the Local 707, albeit at a much lower rate.

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Barclays: "Equities Rushed To Price In The Reagan 1986 Tax Cuts Before Crashing In 1987"

With concerns rising that the market has gotten well ahead of itself over the practical reality of Trump tax cuts - most recently voiced by Goldman which over the weekend said that "we are approaching the point of maximum optimism and S&P 500 will give back recent gains as investors embrace the reality that tax reform is likely to provide a smaller, later tailwind to corporate earnings than originally expected" - Barclays decided to look at one of recent history's most notable tax regime changes: the Reagan tax cuts.

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Russia: "The New American Leaders Are Repeating Obama's Mistakes"

The Trump-Putin honeymoon continues to chill... that is if Trump's top foreign policy advisors speak for the president, which remains very much unclear.

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The Four Key Themes From Q4 Conference Calls

In its quarterly Beige Book publication, Goldman conveniently gathers anecdotal evidence of fundamental and thematic trends from the earnings transcripts of companies in the S&P 500. As Goldman's Davis Kostin explains, since President Trump’s surprise victory over Hillary Clinton in November, investors and management teams have been acutely focused on the new administration’s policy proposals. In this Beige Book, we focus on management commentary regarding four key pillars of the Trump Administration’s agenda: tax reform, regulation, fiscal spending, and trade policy.

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