credit for good market performance. But it's not totally disconnected. Trump gets credit for cutting corporate tax rates -- a move that was LONG overdue -- and for a generally more favorable, less onerous regulatory environment. He gets demerits for his haphazard, poorly thought out and poorly executed approach to trade. On balance though, the environment for business under trump has been generally good and that is at least to some degree reflected into the stock market performance over the last ~3 years.

But if I had to point to one thing that's most responsible for stock market performance, it's the 10 year treasury yield at sub-2%