US Market

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“Meantime, we need to get set for a Trump Presidency and we know what that looks like.

Trump doesn’t like a strong U.S Dollar, and he doesn’t like high interest rates.

He doesn’t like Jerome Powell, and Powell doesn’t like him.

Trump is not troubled by high levels of debt.

Trump loves tariffs.

Hence, the first easy observation is that Trump’s economic policies will be inflationary.

Let me be even more direct.

I think a Trump Presidency will be good for gold, bad for the dollar, and bad for bonds.

I also think that Trump’s return to the White House could be good for small businesses and regional banks.

As is well known small business owners are largely Trump supporters and prefer lower taxes and less regulation.
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In essence a Trump win in November could lead to the long-awaited ‘Great Rotation’ away from long-duration technology stocks to shorter-duration cyclical stocks.

I don’t think the market waits for November…

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