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Tuesday In Charts: ‘Remember To What You Owe Your Good Fortunes’

"We think the timing would be good for investors too to remember to what they owe their improvement in fortunes"...

So first, this (summarized in two handy bullet points via Bloomberg): Vice President Mike Pence breaks a 50-50 tie in the U.S. Senate to allow debate to begin on legislation to repeal Obamacare. Senate votes 51-50 to agree to a motion to proceed to health- care legislation that was passed by the House, H.R. 1628, which would be subject to amendments; the exact shape of the bill remains unclear Stocks hit more records today helped by Caterpillar and McDonald's which were sharply higher on earnings ("I'm Lovin' It"): The Nasdaq underperformed as Google fell. The VIX crashed near an 8-handle, which is pretty much all you need to know about that, although I guess it's worth noting that it did move higher later in the session: Yields rose throughout the session (ahead of the Fed) as multiple block trades weighed on Treasuries. As Treasury yields go, so goes USDJPY, which was also buoyed by characteristically absurd BoJ minutes, which pressured the yen against all its G-10 peers: https://twitter.com/heisenbergrpt/status/889643436646834177 Crude posted its biggest intraday gain in at least a week, as bulls are emboldened by promises of August export cuts from the
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