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Pro Analysis

US economy will post a record expansion on Trump's tax cuts, Deutsche Bank strategist says


Contractors work on the Hudson Yards Shed in New York.
Michael Nagle | Bloomberg | Getty Images

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.