The US votes for radical changeDonald Trump has narrowly won the US Presidential Election. Financial Markets are likely to respond over the coming days with substantially diminished risk appetite. The Republican party has also held on to the Senate majority and the House of Representatives giving them a clean sweep of the executive bodies that control US Policy. That said, we believe that Congress remains fiscally conservative, so Trump might have to water down some of his tax cutting proposals. What Trump does on trade policy remains the great unknown, and potentially the biggest worry for financial markets.
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