Play your Trump card – 2025 is likely positive for investors but brace for bumpy ride
The Republican clean sweep is likely to extend US exceptionalism; but it is not without risks, given the valuation gap between US assets and the rest of the world
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AFTER a year in which more than 100 countries held elections, one ballot outcome in particular offers both hope and fear for investors. The Republican clean sweep of the US presidency, House of Representatives and Senate promises to be very consequential – not just for the domestic economy, but also for international trade and finance.
Our view is that this is likely to extend US exceptionalism a while longer. However, it is not without risks, especially given the valuation gap between US assets and the rest of the world.
While a Republican clean sweep was always a possibility, what was truly impressive was Donald Trump’s ability to win the popular vote. In the run-up to the election, many questioned whether the Democrat’s national lead would be big enough to win the Electoral College votes. The Democrat’s lead itself proved to be a mirage.
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