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Risk Appetite Wanes as Democrats Go Into Detail on Billionaire's Tax

CROSS ASSET
  • Equities and growth-proxy currencies come under pressure as the Democrats unveil their Billionaire Tax plans, releasing the finer details as part of the plan.
  • The plan sees those with billionaire status paying an annual 23.8% on gains, in an effort that's seen helping Biden's White House fund a social spending programme primarily aimed at lower-income households.
  • Equity futures came under pressure on the headlines, with the e-mini S&P touching 4558.00 on the pullback. The news also works further against USD/JPY, which extends the recent weakness to near first support at 113.50 and last week's key support at 113.41 - the Friday low.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
USEM BulletHomepagemarkets-real-timeFixed Income BulletsCommoditiesEquitiesBulletMarketsEmerging Market NewsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
USEM BulletHomepagemarkets-real-timeFixed Income BulletsCommoditiesEquitiesBulletMarketsEmerging Market NewsForeign Exchange Bullets

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