If you pay attention to the yield curve (the “curve”), you have noticed an interesting change over the last two years…. it has flattened substantially!
Market volatility is back. After going nearly 310 trading days since a back-to-back daily decline of .5% or more, we witnessed a market decline as measured by the S&P 500 of nearly 10%. While some investors have become nervous, we simply see this as a reversion back to normal market volatility.
“Don’t tax you, don’t tax me, tax that fellow behind the tree,” quipped Senator Russell Long, who chaired the powerful Senate Finance Committee from 1966 to 1981. In 2017, as the year wound to a close, House Republicans introduced their version of tax reform.