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Analyst Warns That Bulls Are Bound to be Disappointed by Trump's Tax Plan

  • Cowen & Co. casts doubt on outlook for Trump’s tax plan
  • But investors continue to snap up stocks in reflation trade
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Markets Question Trump's Mix of Growth, Inflation

A warning to investors sending stocks to record highs: President Donald Trump’s “phenomenal tax plan" probably won’t be so great.

That’s according to Chris Krueger, an analyst at Cowen & Co., who wrote Monday that bulls are bound to be disappointed after Trump’s hint last week that he was close to announcing a corporate tax overhaul helped send stocks to a three-day rally. Instead of a “bigly comprehensive tax policy paper," Krueger said what’s more likely is: