Right now global investors are grappling with at least two big surprises linked to Donald Trump. The first is the magnitude of his victory. Although many (including myself) expected him to win, few anticipated such a crushing victory, or the extremist tone of his early appointments.
The second surprise is the markets. Not only have American stock markets hit record highs but other risk assets have also surged, with bitcoin jumping to its own record high of $90,000.
Can this continue? Financial history suggests it could. “When the stock market rises immediately after the election, it tends to perform well over the next year,” says Sung Won Sohn, an independent analyst. “There are solid reasons to be optimistic.”
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