Evidence suggests that corporate earnings are closer to a cyclical peak than a trough.
Do you think U.S. corporate tax reform is coming before mid-term elections? No? You aren’t alone. In my latest Bloomberg Prophets post, I explain why this topic is so important to investors. Corporate profit margins are toppy, wage and commodity inflation is grinding higher, and valuations are steep. U.S. stocks could certainly use a new catalyst, and tax reform fits the bill. Click below to see the full note.