LBBW's Karl Haeling said mkts generally.....>

US TSYS: LBBW's Karl Haeling said mkts generally are "currently voting that the

tax changes will not boost growth or inflation enough to create bearish

pressures for interest rates, most notably long-dated maturities. But the mkts

are saying that the tax cuts will boost corporate profitability, in turn

reducing price-to-earnings ratios, and will encourage companies to raise their

dividends and/or buy-back their shares."

- "For equities, one of the great questions now is how much upside is left for

the bull trend now that the stock market has already rallied," he said. "For us,

the underlying environment that that has driven equities is still in place.

Inflation and interest rates are low, corporate profits are healthy and in the

big picture, stocks still seem to represent an under-owned asset, particularly

among retail investors."

- "But for the next couple of months, a correction is always possible, perhaps

even likely," he said. "Here, different sentiment measures are coming out with

widely varying readings. CNBC conducted a survey of mostly retail investors Mon

and found that more than 50% are bullish," the  "highest" in the poll's history.