Markets underpricing impact of tax reform, says BAML

“I think the market is not appreciating the risk of growth,” says David Woo, head of global rates and FX

Growth potential: BAML’s Woo believes US growth could surprise to the upside

Markets are underpricing the potentially positive impact of US tax reforms, which could translate into more economic growth in the US than participants currently expect, says David Woo, head of global rates, foreign exchange and emerging markets fixed income and economics at Bank of America Merrill Lynch.

“The market doesn’t seem to be all that impressed,” he says. “My view is the market is much too complacent about the market implication of this tax reform.”

Congressional Republicans recently

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