With the dust settling on the victory for President Trump, it is worth taking stock on what a second term could mean for markets and the global economy.
Nonetheless, assuming a majority in Congress, President Trump is likely to embark on a programme of tax cuts at home and escalating trade protectionism with global partners.
While tariffs could be quickly introduced via executive orders, the President’s fiscal plans would require passage through the Houses of Congress.
While the initial market reaction to the victory has been a strengthening in the dollar and a rise in Treasury yields, it remains uncertain how these policies could play out in the longer term.
