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1.Market Observations, 8.Was Sticky

20 Feb 2017 (AFR) – Investors appear confident that things will keep getting better

(20 February 2017, AFR, p28, by Karen Maley)

‘Euphoria has broken out on Wall Street. After finally managing to break through the 20,000 barrier, the Dow Jones Industrial Average has since gone on to record a stunning seven consecutive record closes. Other major US indices such as the Standard & Poor’s 500 and the Nasdaq are also hitting new highs amid renewed market enthusiasm for the reflation trade, which is premised on US President Donald Trump’s promised tax cuts and increased infrastructure spending.’

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