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1.Market Observations, 8.Was Sticky

13 Dec 2016 (AFR) – Beware Donald Trump’s Reaganite boom

(13 December 2016, AFR, p27, by Edward Luce)

‘Forecasters not only said Donald Trump would lose last month. They also thought markets would collapse if he won. Quite the opposite has happened. Investors expect all the good things Mr Trump promised and none of the bad. Instead of global trade wars and mass deportation of immigrants, the equity markets foresee tax cuts, deregulation and big spending. Almost every index has hit recent highs since November 8, adding more than $US1tn to US equity valuations and almost 5 per cent to the dollar’s trade-weighted value. Global markets are gearing up for a Trump boom. In that respect Mr Trump is already heir to Ronald Reagan. But the seeds to the reversal of the “Trump trade” are already sown. The biggest threat will come from…’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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