Market 02/24: Trump Wants to Decisively Change the Government

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Political news

Trump resolutely wants to streamline the government apparatus

• Trump praises Elon Musk but still wants a leaner government, despite opposition to layoffs and deep spending cuts.

• Elon Musk declares that federal employees not returning to the office will be placed on administrative leave, starting this week.

• Market expects government shutdown probability up to 60%.

• Regarding taxes, Trump demands pharmaceutical companies return to the US, declaring no concessions to demands from the pharmaceutical industry.

Xi Jinping phone call with Putin, emphasizes Russia-China relations 'inseparable'

• In the 02/24 phone call, Xi Jinping affirmed that Russia and China are "true friends" and "support each other".