9 november 2016
US vote for radical change
Contrary to polling forecasts, Donald Trump has won the US elections. Financial markets are likely to respond negatively with a diminished risk appetite over the coming days. The Republicans have held the majority in both the Senate and the House of Representatives. This means that economic policy decisions will be faster and easier to implement. Nevertheless we believe that the US Congress will remain relatively traditional on the budgetary policy front and that D. Trump will certainly need to compromise. His trade policy is still the biggest unknown, not to mention the greatest fear of financial markets.
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