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  • Trump budget surprise: Gutting the CFPB

    The impact of President Donald Trump’s 2018 federal budget proposal would certainly be felt in the housing industry via the 13% cut to HUD's budget, but that’s hardly the only impactful move that the budget proposal holds. Buried on the second-to-last page of Trump’s budget is a move that is sure to please Trump’s fellow Republicans and many in the housing industry as well – gutting the Consumer Financial Protection Bureau.

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Bond markets hit best territory in two weeks

And though there was a moderately busy economic data calendar this morning, it was a Cliff-related headline from Senate Majority Leader Reid that sent bond markets into their best territory in two weeks and stocks to their lowest levels since before the Employment report on December 7th. 

The Federal Reserve completed a round of scheduled "Twist" buying at 11 a.m., but rather than bounce back into weaker territory (as is often the case following Twist buying), bond markets have been more keen to follow the broader risk-off trade, maintaining gains thanks to stock selling.

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