POV: ### The US stock market could...>

US TSYS/STOCKS: POV: ### The US stock market could have a particular pressure on

it into the year-end: it could face some tax loss selling. Here's the thinking:

the various tax reform plans being considered in Congress may or may not keep

tax loss deductibility in their plans. So if accounts have tax losses, they may

be choosing to sell now, take the loss and then don't run the risk of not being

able to deduct tax losses next year in 2018, amid changing tax plans. 

- However US stocks remain quite strong: The Nasdaq for example is up 27.14% on

the year; DJIA is up 19.3%, and S&P 500 is up 15.77% on the year. 

- Meanwhile some other traders speculate that there may be a risk-off mood into

the year-end as some take profits on risk asset categories that are looking

toppy about now. 

- Meanwhile once the year-end get closer, in a few weeks, it will be interesting

to see what pensions funds need to sell in US stocks/vs. buying in US bonds to

rejigger their asset allocations. "They may need to do a little bit of

rebalancing: stocks have had a very good year," said one trader.