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What investors expect from Trump

Shareholders are over the moon; bondholders are readying the whip hand

    • Although they have fallen a little over the past fortnight, investors still value listed American companies at multiples of their underlying earnings that have rarely been exceeded, a clear bet on their continued ability to generate ever higher profits.
    • Although they have fallen a little over the past fortnight, investors still value listed American companies at multiples of their underlying earnings that have rarely been exceeded, a clear bet on their continued ability to generate ever higher profits. PHOTO: AFP
    Published Sat, Jan 4, 2025 · 05:00 AM

    FOR investors who bought on the rumour, it is nearly time to sell on the news.

    They have spent months gripped by uncertainty over what America’s next president will do in office, as rumours have flown thick and fast. How high will tariffs rise, and how strongly will other countries retaliate? Will he really keep campaign-trail promises of mass deportations, sweeping deregulation or trillion-dollar tax cuts?

    What will it all mean for growth, inflation and asset prices? With Donald Trump’s inauguration on Jan 20, answers will at last start to arrive.

    Donald TrumpWealth & InvestingUS economic policymaking

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