It is the 19th of September 2019

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Wells Fargo, Fifth Third Unveil Minimum Wages Hike, Bonus Payments After Tax Reform Passes

AT&T's announcement that it would boost US capex by $1 billion and pay a $1,000 special bonus to 200,000 employees once Trump signs the Tax Cut bill into law (ideally before the holidays), has unleashed a veritable torrent of trickle down economics. And who would have thought that the "Fight for $15" movement would see some of America's biggest banks as its latest members.

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Did Trump Just Intentionally Snub Gary Cohn?

In our preview this morning, we noted that it seemed odd that Trump's tax speech had reportedly been drafted by White House aide Stephen Miller, the leader of the nationalist arm of the White House staff, as opposed to his Chief Economic Advisor Gary Cohn.

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Saudis Plan $40 Billion US Investment To "Cement Ties With Trump"

Having gone all-in on a Hillary Clinton victory ahead of the elections, Saudi Arabia has quickly pivoted in its "appreciation" of the Trump administration, and having realized that the fastest way to Trump's heart is through the US Treasury's bank account, it is preparing to invest an "unprecedented" amount of money in the US. According to Bloomberg, the Kingdom’s sovereign wealth fund will announce plans to "deploy as much as $40 billion into U.S. infrastructure." The investment will likely be unveiled as early as next week when Trump is scheduled to visit the kingdom.

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What Trump Tax Plan? Key Senate Panel Has Not Even Seen It

RIP BAT - the Border Adjustment Tax, which was floated in November under a proposal from Paul Ryan and which met with fierce resistance, is effectively dead. According to Bloomberg, Trump’s "tremendous" tax plan to be revealed next week likely won’t include the controversial border-adjusted tax.

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