14 September 21 - Taxes Back on the Table | Sydney Airport Takeover Lifted Global markets had a mixed start to the week overnight, with the US market (S&P 500 index, +0.2%) ending it’s 5 day losing streak. Most sectors were in the green led by energy as commodity prices continue to recover, with OPEC predicting strong demand for crude on a combination of higher consumption and supply disruptions globally. Healthcare and tech stocks were the laggards House Democrats released their proposal on tax increases which fell short of Biden’s plan, raising another red flag about whether the President would be able to push through his $3.5tn social spending bill. The proposed increase in the corporate tax rate was “only” 5.5 points to 26.5% compared to Biden’s preferred 28% and the top rate on capital gains tax would rise 5 points to 25%, well below Biden’s proposed 39.6%. Over the weekend, Senator Manchin – whose vote will be crucial to pass legislation – re...