TWO weeks after Donald Trump swept to victory, investors from around the world are betting that his promises of tax cuts, fewer regulations and a spendthrift federal government can recharge the American economy.
This burst of exuberance sent the major markets to record highs on Monday, as investors continued to pull out of government bond funds whose yields are miserly. The momentum has shown few signs of slowing and has resulted in significant flows of money being poured into US stocks.
The rush of money has also pushed up the value of the dollar against the currencies of developed nations, such as the euro, and those of developing nations such as Brazil, Turkey and Mexico.
A strong dollar that...
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