November 30th, 2016
Mr. Trump has been elected to become the 45th President of the United-States of America.
His goal is to put American’s interest first in all aspects of his mandate, create more jobs and bring growth back to 4%.
This is an ambitious goal, to say the least, but we have to give him the benefice of doubt, not only because a regime shift is probably needed, but also because if he succeeds, it will benefit all. Numerous details will have to clarify over time, such as how he will finance his program, what the impact will be on the US deficit, what attitude is he going to adopt with his trading partners, etc.
In terms of investments, new trends are starting to emerge: rotation from bonds into equities, a shift in sectorial preferences, or Emerging Markets’ outflows.
Some needs to be confirmed, but others will stay with us and force us to adjust our positioning.
Please find attached our complete analysis: AlphaSwiss Partners Market Update – November 2016