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As the market reaches the eighth birthday of this bull market run, Deutsche Asset Management's David Bianco told clients the U.S. economic expansion is likely to surpass the previous 10-year record because of President Donald Trump's tax reform.
"A record long U.S. economic expansion is increasingly likely … If a significant and simple corporate tax rate cut is passed in 2017, we think the U.S. will set a new record for the number of years between recessions," chief investment strategist Bianco wrote in a note to clients March 2.
The strategist cited in a report from his firm showing how the current economic expansion has 27 more months to go to beat the 120 months record from 1991 to 2000.
