Bank Of America: "This Could Send The Nasdaq To 10,000"

"Capitulation of bond bears would send 30-year Treasury yields toward 2%, the Nasdaq toward 10,000, and high yield & Emerging Market bond spreads 100bps tighter. The outperformance of “deflation” versus “inflation” could turn exponential..."

US Spent A Record $4 Trillion In Fiscal 2017, Pushing Deficit To $666 Billion

Federal tax receipts reached a record high $3.3 trillion, thanks to slightly faster growth, according to a senior Treasury official. But government outlays also hit a record high last year at nearly $4 trillion ($3.95 trillion to be precise), 3% higher than they were in the previous fiscal year, thanks to increased spending on Social Security, Medicare and Medicaid, as well as higher interest payments on the public debt