In Asia, the main events that mattered was the unveiling of the 19th Politburo Standing Committee (PSC) in China and bank recapitalization by the Ministry of Finance in India.

Europe’s flash PMI data will also let us know whether the positive momentum of the European economy is holding up.

On macro, the market will probably look to US industrial production, the Philadelphia Fed manufacturing index and the UK labour market data to get the latest indications of the strength of the global economy.

The impact of the tax plan is clearly a policy of fiscal expansion which will boost growth, inflation and market determined interest rates.