Goldman says the odds of a 'blue wave' in the November elections is rising

Democratic U.S. presidential candidate and former Vice President Joe Biden addresses supporters at his Super Tuesday night rally in Los Angeles, California, U.S., March 3, 2020.
Elizabeth Frantz | Reuters

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Goldman Sachs told clients in a note Thursday that the odds of a "blue wave" of Democrat victories in November are rising and that such an outcome could threaten the 2017 tax cuts that have fueled corporate profits in recent years.

Goldman vice president of equity strategy Cole Hunter and chief U.S. strategist David Kostin warned that a sweep of the House, Senate and Oval Office would almost assure at least a partial rollback of President Donald Trump's landmark Tax Cuts and Jobs Act.