Well, that was quite an evening, wasn’t it?
We’re just going to touch a few hot topics this morning and let the professional pundits do what they do. The election results of last night beg a lot of social commentary, but we will stick with finance, because we’re not sociologists.
Nothing we wrote yesterday has changed- investment markets will always hate uncertainty. We are seeing somewhat increased uncertainty now because no analyst (that we know of) gave any credence to the possibility of this result, and therefore aren’t sure what to do next.
In last night’s speech, Mr. Trump made reference to “a movement” that elected him. Data indicates that this movement may entail a wholesale repudiation of the “hope and change” consensus of 2008 and 2012. From a financial point of view, this means a few things:
– very likely to further delay Fed interest rate hikes into 2017
– very likely to stimulate even further change in the healthcare industry
– very likely to indicate a new worldview re: trade agreements
What does that mean we’ll actually DO? Let’s sweep up the confetti first…
Dennis Crowley, MBA