HSBC have published an economic commentary following last Tuesday’s elections in the USA.
The opening paragraphs include:
Following Tuesday’s elections in the USA, Donald Trump will become the 45th US president, after completing one of the most dramatic political upsets in modern American history. The results also leave the Republican Party with majorities in both houses of Congress (the Senate and the House of Representatives), completing a ‘clean sweep’ of the three major arms of the US government.
The Trump win came as a shock to financial markets, after polls had consistently shown Hillary Clinton ahead in the race for the presidency. Comparisons are, inevitably, being made with the UK’s vote earlier this year to leave the EU. That said, following the initial volatility, market reaction this time round has been rather more muted than those which immediately followed Britain’s Brexit vote – no doubt reflecting in part that earlier experience of initial shock being followed by a sense of ‘business as usual’.
Read the full article here...