Some excerpts: ... Investors now worry that his much-vaunted policy of trade tariffs will hurt domestic growth. Meanwhile, the US’s foreign policy has galvanised Europe’s politicians into promising a defence spending boom that has lifted the region’s assets.
... European stock indices have outstripped Wall Street over the past six months. The S&P 500 is up a little over 4 per cent, behind 5 per cent for the UK’s FTSE 100, 10 per cent for France’s Cac 40 and more than 20 per cent for Germany’s Dax. The region-wide Stoxx Europe 600 has jumped 8.5 per cent. ... “We have gone from ‘all roads lead to the US’ to seeing numerous cracks to US exceptionalism,” said Alain Bokobza, head of global asset allocation at Société Générale. “At the same time we have seen several game changers in Europe . . . so Europe is back on the agenda.” ... Eight years after his first presidential election victory initially sent investors rushing for havens before they bet he would be a boon for stocks, many fund managers are again wondering how they got Trump so wrong. ... Meanwhile, hopes of stronger European growth have prompted traders to rein in their bets on lower rates, with just one or two European Central Bank cuts now expected, after the cut made on Thursday. That is one fewer than a week ago. ... “The good news of lower taxes and deregulation was factored in quickly,” said Trevor Greetham, head of multi-asset at Royal London Asset Management. But it was “hard to factor in the bad news” of tariffs, deportations and the hit to growth from the government’s efficiency drive before they started to happen, he added.
And Most Recommended from the comments section (which I often find as interesting and illuminating as the article) "Everything Trump touches dies. I feel sorry for my American friends who didn’t vote for the fascist, but having Trump, a guy who even managed to bankrupt his own casinos, in power for four years will not end well for the US."
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https://www.ft.com/content/2e8109e6-d56b-4c3f-824d-2933eaff1242
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Investors now worry that his much-vaunted policy of trade tariffs will hurt domestic growth. Meanwhile, the US’s foreign policy has galvanised Europe’s politicians into promising a defence spending boom that has lifted the region’s assets.
European stock indices have outstripped Wall Street over the past six months. The S&P 500 is up a little over 4 per cent, behind 5 per cent for the UK’s FTSE 100, 10 per cent for France’s Cac 40 and more than 20 per cent for Germany’s Dax. The region-wide Stoxx Europe 600 has jumped 8.5 per cent.
...
“We have gone from ‘all roads lead to the US’ to seeing numerous cracks to US exceptionalism,” said Alain Bokobza, head of global asset allocation at Société Générale. “At the same time we have seen several game changers in Europe . . . so Europe is back on the agenda.”
...
Eight years after his first presidential election victory initially sent investors rushing for havens before they bet he would be a boon for stocks, many fund managers are again wondering how they got Trump so wrong.
...
Meanwhile, hopes of stronger European growth have prompted traders to rein in their bets on lower rates, with just one or two European Central Bank cuts now expected, after the cut made on Thursday. That is one fewer than a week ago.
...
“The good news of lower taxes and deregulation was factored in quickly,” said Trevor Greetham, head of multi-asset at Royal London Asset Management. But it was “hard to factor in the bad news” of tariffs, deportations and the hit to growth from the government’s efficiency drive before they started to happen, he added.
And Most Recommended from the comments section (which I often find as interesting and illuminating as the article)
"Everything Trump touches dies. I feel sorry for my American friends who didn’t vote for the fascist, but having Trump, a guy who even managed to bankrupt his own casinos, in power for four years will not end well for the US."