Business

Here are the full policy highlights of the Republicans' Tax Cuts & Jobs Act...

Policy Highlights

The Tax Cuts and Jobs Act (H.R. 1) overhauls America’s tax code to deliver historic tax relief for workers, families and job creators, and revitalize our nation’s economy. By lowering taxes across the board, eliminating costly special-interest tax breaks, and modernizing our international tax system, the Tax Cuts and Jobs Act will help create more jobs, increase paychecks, and make the tax code simpler and fairer for Americans of all walks of life. 

Authored by Lance Roberts via RealInvestmentAdvice.com,

The “tax bill cometh.” According to the press, this is going to be the single biggest factor to jump-starting economic growth since the invention of the wheel.

What could go wrong?

Small Caps exploded higher today, driven by financials, presumably on tax reform hype.. but after Bob Corker said "yes" there was some notable "sell the news"...

Lately, fund flow data has all the credibility of a NYT presidential poll two days before the Trump defeats Hillary.  On one hand, you have Lipper reporting that investors pulled $16.2bn from U.S.-based equity funds in the past week, the largest withdrawals since December 2016. The same Lipper also reported that taxable-bond mutual funds and ETFs recorded $1.2bn in outflows, with U.S.-based high-yield junk bond funds posting outflows of $922 million.

Authored by Lakshman Achuthan and Anirvan Banerji via Bloomberg.com,

Analysts shouldn’t dismiss the yield curve’s message just because inflation expectations have been declining in recent years.
 

When it comes to the economic outlook, the bond market is smarter than the stock market. That Wall Street adage appears to be on the money from a cyclical vantage point, with key indicators in the fixed-income markets independently corroborating slowdown signals from the Economic Cycle Research Institute’s leading indexes.