Credit Suisse Is Unfazed by Prospect of Biden Tax Hikes

A Democratic sweep in November ushering in higher tax rates probably wouldn’t be as bad for the U.S. equity market as some investors fear, according to Credit Suisse.

If Joe Biden wins the presidency and Democrats take control of both houses of Congress, they would implement policies supporting the economy, which would limit the potential for stock declines from unwinding Donald Trump’s corporate tax cuts, Credit Suisse Chief U.S. Equity Strategist Jonathan Golub said.

“Many have postulated that less favorable tax policy following a Biden win/Blue sweep ... would act as a catalyst for stocks to decline,” Golub said in ...