<div id="readability-page-1"><div><div><h2><strong>K-shaped: who cares...?</strong></h2><p>Consumer confidence is at multi-year lows. Credit is slowing. The bottom is falling behind. And yet stocks keep grinding higher. Welcome to the K-shaped economy, where asset owners keep spending, and where Morgan Stanley and Goldman say the upside isn’t gone yet in the the &#34;tax trade&#34;.</p><h2><strong>Decade low confidence</strong></h2></div></div></div>

<p>K-shaped: who cares...?Consumer confidence is at multi-year lows. Credit is slowing. The bottom is falling behind. And yet stocks keep grinding higher. Welcome to the K-shaped economy, where asset owners keep spending, and where Morgan Stanley and Goldman say the upside isn’t gone yet in the the "tax trade".Decade low confidence</p>

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