TO THE long list of pundits who called the election all wrong - as well as its likely consequences - add Wall Street analysts. As the presidential election approached, they were falling all over themselves to predict a Hillary Clinton victory and, afterwards, a modest stockmarket rally. The prospect of a win by Donald Trump was so remote as to be deemed a "black swan", an event that was only distantly possible but would have potentially dire consequences for financial markets. Among the many predicting a drop in equity markets in the unlikely event of a Trump victory were analysts at Citibank, JPMorgan Chase and Morgan Stanley. Keith Parker, head of cross-asset strategy research at Barclays,...
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