Stocks, the US dollar and Treasury yields all rose in afternoon NY trade Friday, seemingly in anticipation of Congressional tax writers announcing a reconciled tax plan capable of being voted on by both Houses this week.The unified plan was duly announced at 5:30pm NY time, post market close, but it’s fair to say it was pretty much priced in before then. Notable was that the relatively highly taxed equity sectors (e.g. materials, energy, real estate) heavily underperformed those containing the big multinationals (IT, healthcare) that already pay the least tax. Stock investors have surmised – rightly it seems – that ... (full story)