Nick, do you think the market will do some just in case selling during the last hour or two? The market seems a bit too happy considering the close vote count in both the House and the Senate. A deal that could get votes from the Freedom Caucus may not get votes from the Senate Progressive Caucus, (the AOC caucus). From what little detail I can gather it appears student loan debt relief is getting the ax along with at least a portion of new IRS agents. Student loan relief was probably getting axed by the Supreme Court anyway. That ruling is coming next month. If ~44MM Americans have to start paying off student loan debt in September, discretionary spending is going to suffer. Or maybe Biden will just kick the can down the road again.
The stock market is a device for transferring money from the impatient to the patient. - WB
