New Elephants in the Room
For the past six years the FED has been the Elephant in the Room. Now we have not one but three Elephants that are propping up the markets, the promises:
- of de-regulation,
- corporate tax cuts,
- and infrastructure stimulus.
They are different in a lot of ways from the FED balance sheet. First they are promises, and secondly no one knows what effect they will have on the economy or markets if they are implemented.
In any case:
The Tracking funds are now flat lining, both are slightly positive and waiting for the other shoe to drop.