Insights

Weekly Market Commentary

8 November 2024

This week saw a big market reaction to Donald Trump’s return to power. Republicans also retook control of the Senate and are set to keep their majority in the House of Representatives. The so-called Trump trades re-ignited as US growth stocks and the dollar rose strongly, and US government bonds tumbled. In contrast to 2016, when large parts of the Republican party were not 100% with him, the incoming president has much more scope to implement his policies. As Trump assembles his new government, investors will be keenly watching for indications of his policy priorities. How far his administration will go to deliver his promised tariffs and tax cuts, for example?