Volatility Rising, but Equities Still Attractive

Markets reacted positively last week to the long awaited outline of President Trump’s tax reform. Affectionately known as the “reflation trade”, risk-on sectors reengaged and outperformed, but small cap stocks and the technology sector were the brightest stars. Reaching the close on Friday, the Nasdaq Composite gained 1.1% and S&P 500 moved up 0.4%. Based on investor optimism, tax reform may be the key to a continuing bull market.

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