Good morning- Global equities are all lower to start this morning’s session. In Europe, the Stoxx 50 is down 13 points, the FTSE is down 38 points, and the DAX is down 22 points. In Asia, the Nikkei is down 90 points and the Hang Seng is down 19 points. Stock futures in the US point to a lower open as the House and Senate both scramble to put a tax bill together. That said, the DOW is down 31 points, the S&P down 6.75 points, and the NASDAQ is down 11.5 points. Oil is mostly unchanged as it sits just above $57/bbl. With respect to rates, treasury yields are up 1-4bps across the curve in steepening fashion. The yield on the 10yr UST is up about 3bps to 2.37%. Credit continues to struggle this week with high yield getting hit the hardest. The Bloomberg Barclays HY OAS index has widened out 24bps this week representing the largest weekly drop since early March. There is no significant economic data scheduled for today.