Enjoy the economic impact from the tax cuts while you can, because it won’t last long, according to two reports released Tuesday. Morgan Stanley and the International Monetary Fund put out strikingly similar reports, saying the $1.5 trillion Tax Cuts & Jobs Act will basically give the U.S. a sugar hit. The Morgan Stanley report — titled, “The Downside of Fiscal Stimulus” — is particularly negative. That report argues the benefits of fiscal stimulus are mostly priced in, since the S&P 500 SPX, +1.05% rallied 20% last year and 10-year bond yields TMUBMUSD10Y, -0.52% rose 45 basis points beginning when tax reform ... (full story)