PineBridge Investments

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Investment Strategy Insights: Delays and Dilution Are Ahead for US Corporate Tax Reform

Expect regulatory rollback, not corporate tax cuts, to be Trump’s swiftest and most impactful economic stimulant.

While many headlines have attributed the equity rally to the prospect of US corporate tax reform, evidence continues to mount that this reform will be delayed and diluted. However, we do not see this as a cause for alarm: The rally is global, not contained to the US, and began last summer, when most were predicting a Hillary Clinton victory. We believe the rally’s true sponsor was the end of private sector deleveraging and the consequent uptick in global nominal GDP growth from below to above stall speed.

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Head Office
Exchequer Court
33 St. Mary Axe
United Kingdom
Alexander Klotzsch Tel. +44 20 7398 6000
Company website:
Parent Company:
Pacific Century Group
Year Founded:

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What’s new

  • 2017 midyear outlook great expectations for global growth

    2017 Midyear Outlook: Great Expectations for Global Growth

    White papersTue, 20 Jun 2017

    Markus Schomer, CFA, Chief Economist, explores the shifting political risk, movement toward more synchronized global growth, and the regime change happening in markets

  • video economic midyear outlook

    Video: Economic Midyear Outlook

    White papersTue, 20 Jun 2017

    Markus Schomer, CFA, Chief Economist, on surprises the global economy has served up, and why 2017 may be the year where growth cycles become more synchronized.

  • Video: Multi-Asset Midyear Outlook

    Video: Multi-Asset Midyear Outlook

    White papersTue, 20 Jun 2017

    Michael J. Kelly, CFA, Global Head of Multi-Asset, explores the new market regime and why an active approach is critical.

  • video fixed income midyear outlook

    Video: Fixed Income Midyear Outlook

    White papersTue, 20 Jun 2017

    Steven Oh, CFA, Global Head of Credit and Fixed Income, discusses why we are looking to niche markets for incremental yield.

  • video equity midyear outlook

    Video: Equity Midyear Outlook

    White papersTue, 20 Jun 2017

    Anik Sen, Global Head of Equity, on why cyclical stocks are on the upswing as normalization progresses.

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