What impact does the US election result have on the world economy and markets? Donald Trump has won the presidency, and Republicans are retaking control of the Senate. A Trump win opens the door for tax cuts, deregulation, and tougher trade policies. House control is key. Elevated budget deficits are likely to push inflation higher and raise long-term Treasury yields.
In the short term, we expect US equities to benefit from solid economic and corporate earnings growth, political stability, and Fed rate cuts.
The longer-term outlook depends on how much of Trump's agenda is enacted. We believe the energy, financial, and technology (tech) sectors will see some advantages, partly due to deregulation.
We're neutral on long-term US Treasuries and prefer medium-term maturities and high-quality credit for income, but we expect yields to rise as investors seek higher compensation for holding bonds.
This story is from the November 11, 2024 edition of Business Standard.
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This story is from the November 11, 2024 edition of Business Standard.
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