Sell the fact?
The US dollar is down 30 to 50 pips across the board since the administration first rolled out the tax plan. The S&P 500 has also pared its gains.
Obviously, these changes would be amazing for corporate earnings but you have to wonder how much was priced in already. Second, you have to wonder how realistic passing it is.
On the headlines, some of it is definitely new so it didn't all leak but perhaps the market was expecting a bigger bang.
It's a tough one to trade because my thinking is that this is pretty good news.