US: 2017 was the most remarkable year in the history of the NFIB Optimism Index - Rabobank

Analysts at Rabobank explain that the US NFIB small business survey yesterday gives serious ammunition to those who have Bond in their crosshairs. 

Key Quotes

“Yesterday’s release stated: “2017 was the most remarkable year in the 45-year history of the NFIB Optimism Index….with a massive tax cut this year, accompanied by significant regulatory relief, we expect very strong growth, millions more jobs, and higher pay for Americans.” The NFIB Chief Economist added 2017 was the strongest year ever in the history of the survey, and that “I’ve never seen anything like 2017. The 2016 election was like a dam breaking. Small business owners were waiting for better policies from Washington, suddenly they got them, and the engine of the economy roared back to life.” Somebody thinks somebody is Making America Great Again.”

“However, if one believes that tax cuts centred on the idle rich and large corporations who don’t pay much tax anyway are likely to facilitate asset speculation and share buy-backs rather than higher pay or investment, then it’s still time to say buy-buy Mr. Bond, even if not at this particular moment, tactically.”