Stocks exploded higher, bonds tanked and crypto boomed to historic peaks, indicating lofty hopes for when the president-elect takes office in January.
However, there's still a lot of game left to be played, and the score could change a lot in future days.
Essentially, strategists worry Trump's plan for punishing tariffs, higher spending and lower taxes will send bond yields higher, generally a recipe for trouble in stocks.
"The question for me is how much can the Trump rally extend in the short term, but it strikes me that selling long positions into a rally makes a good deal of sense."
"This suggests an asymmetric risk/reward framework with a much higher probability of downside than upside," said Lisa Hornby, head of U.S. fixed income at Schroders.
Persons:
Donald Trump's, Stocks, there's, Mark Dowding, Lisa Hornby
Organizations:
Trump, RBC Global Asset Management, Federal Reserve
Locations:
U.S, Schroders
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