Trader: Trump Tax Plan Likely To Send S&P To New Record Highs “No Matter What He Says”

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hqdefaultHaving extensively previewed the various known and unknown aspects of Trump’s tax plan yesterday, set to be announced shortly, the reality – at least according to Bloomberg’s Mark Cudmore – is that no matter what Trump says today, it will almost certainly lead to more stock buying, leading to yet another “Trump Bump.” Which is ironic for one main reason: “Trump’s tax plan is expected to promise great things, but it’ll mean little without approval from Congress. So the consensus is that it’s unlikely to impact too much either way beyond some short-term volatility.” Furthermore, and counterintuitively, it would be a “positive surprise if the plan isn’t overly ambitious and doesn’t promise too much. That would make fiscal stimulus suddenly seem more achievable and realistic.”

However, Cudmore says that is an unlikely outcome: “One of the few inarguable facets of Trump is he knows how to get attention and viewers. Trump’s tax proposal is likely to be dramatic with some bold statements.”

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