Some Inconvenient Truths.

You’re welcome…

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How To Hedge Against A 5% S&P Decline From Tax Reform Failure

One of the caveats in Goldman’s outlook centered around the idea that tax cuts might not materialize or, perhaps more appropriately, that this process will continue to be so fraught as to make it a source of ongoing angst as opposed to a reason to celebrate. 

‘So They’ll Bleed’: Here Are The Winners And Losers From Trump’s ‘Middle Class’ Tax Cut

And you know what? It won’t matter.

Exodus: U.S. Funds See 3rd Largest Junk Outflow On Record

Just how nervous did folks get during the junk bond rout that finally took a breather when spreads tightened materially on Thursday?

Death & Taxes.

“That’s one small step for rich people and corporate ‘citizens’ and one giant leap for Republicans who can’t get shit done”…

More Questions, Less Answers.

Not what I would call an “upbeat” session.

A Truly Taxing Day.

Thursday, bloody Thursday.

Market Gods Are Angry: Bulls Hit By Tax Cut Delay, Junk Bond Drama, Nikkei Jitters (Full Text Of Amended GOP Bill)

Well, if you’re in risk assets – or short vol. – you probably feel like the world is conspiring against you on Thursday.

‘Great Again’

Are we there yet?

Can You Feel The Tension?

Nobody strike a match.

Market Is Losing Its Damn Patience With This Tax Reform Thing

“Seeing is believing.”

Trump Ready To Sign Executive Order On Obamacare Mandate, But Will Wait And See If Republicans Screw Up Tax Bill With It First

“The Trump administration has prepared an executive order that would unravel Obamacare’s individual mandate, but”…

Elizabeth Warren Eviscerates GOP Tax Plan: ‘American Families Are On The Ropes’

” Stock ownership is highly concentrated among the wealthiest 1 percent of Americans – and half of all Americans don’t own a single share of stock – so the Republican plan will be a bonanza for America’s richest.”

Your Complete (Updated) Guide To Tax Reform That Will Never Pass

That may indeed be “the plan” but you know what they say about the “best laid plans” – something about how they often go awry as soon as a sitting President calls a Senator from his own party ‘Liddle Bob on Twitter.

‘Do Something!’

And that, folks, is the week.