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“Hope Versus Reality”: Goldman Illustrates The Trump Trade Fade

“This week the market struggled to readjust its expectations for US government policy following the move away from health care reform. Client conversations make clear that investors fall into two camps: The first group worries that the failure to “repeal and replace” the Affordable Care Act is a sign that other items on the policy agenda are less likely to be enacted than they had hoped. Others are encouraged about the shift in focus to tax reform as the new top priority for the administration.”