Forecasters not only said Donald Trump would lose last month. They also thought markets would collapse if he won. Quite the opposite has happened. Investors expect all the good things Mr Trump promised and none of the bad. Instead of global trade wars and mass deportation of immigrants, the equity markets foresee tax cuts, deregulation and big spending. Almost every index has hit recent highs since November 8, adding more than $1tn to US equity valuations and almost five per cent to the dollar’s trade-weighted value. Global markets are gearing up for a Trump boom. In that respect Mr Trump is already heir to Ronald Reagan.
預測人士不僅曾預言唐納•川普(Donald Trump)會輸掉大選。他們還曾以爲，如果川普獲勝，市場會崩潰。事實卻正好相反。投資者認爲川普承諾的好事全都會發生，而壞事全都不會。股市預想的情景裡麵包括減稅、去監管和大規模政府支出，而不包括全球貿易戰和大舉驅逐移民。自11月8日以來，幾乎所有股指都已達到近期高點，爲美國股市增加了逾1兆美元市值，令美元貿易加權指數上漲近5%。全球市場正整裝待發，準備迎接一輪川普繁榮。從這方面來說，川普已經是隆納•雷根(Ronald Reagan)的繼承人了。