UBS continued, “The tax hike is also likely to be smaller than the potential overall spending.” On balance, the report said, “With vaccination programs underway, we retain a positive longer-term outlook for equities.”Such analyses help to justify the upward trend of the stock market but don’t explain why the rally withstood the assault on the Capitol.Much as I hate to say so, I’m not yet confident that the country is on a clear path to safety and stability. Given the grave damage already inflicted on the United States, the risk of greater destruction can’t be …
