STOCKS/BONDS: Wells Fargo Investment........>

US VIEW: STOCKS/BONDS: Wells Fargo Investment Institute eyed the "Market

Implications of Tax Reform" and noted that the US Tax Cuts and Jobs Act "was

signed into law on Dec. 22, 2017, and it is the most extensive overhaul of the

U.S. tax system since 1986."

- "Our initial, high-level review shows more economic stimulus and potentially

stronger equity-market support than indicated in our current forecasts, which we

made after the House passed its version of tax reform in November," they said. 

- "While it will take financial markets some additional time to digest the

bill's implications, some investment connotations are apparent," they said. "We

recommend that investors looking to benefit from the new stimulus focus on

cyclical equity sectors, which we already favor."