When The Policy Stars Go Blue

The U.S. stock market took off like a rocket to the stars last November and has hardly looked back since. The primary driver of this exuberance was the investor belief that the rush of pro-growth policies in Washington would result in sustained economic growth and higher inflation into the future. But after months of gains in anticipation of this major fiscal policy shift, we have seen the first shift in the light of the policy stars over the past week, as it appears that the pro-growth policy dreams that once shone so bright are now falling back toward earth. Where do investors go when the policy stars go blue?

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