Clouds over Trump tax plan may curb appetite for U.S. stocks

News Article | March 29, 2017 | By Sierra Investment Management

Reuters (March 29, 2017): Wall Street has tempered its expectations for sweeping U.S. tax cuts in the wake of President Donald Trump’s stinging healthcare defeat, a move that could push investors to embrace cheaper global stocks after the heady U.S. rally of recent months.

Dave Wright, a co-portfolio manager of the Sierra Strategic Income fund, which manages $2.3 billion in assets, said the U.S. market looks “substantially overvalued.”

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Sierra Investment Management