Washington lawmakers appear trapped in gridlock, while the Trump administration suffers from daily political crises that threaten its legitimacy and weaken any hope for the policy changes for which it was elected. Yet the equity market has set new highs. Investors seem to have a good grip on market valuation, while critics of the Trump administration and the media seem to relish promoting a pejorative narrative that refuses to recognize the sound basis for the market’s valuation.
Stocks Rally as Washington Burns
