BREAKINGVIEWS-Trump win sends markets into parallel realities

Reuters11-07

BREAKINGVIEWS-Trump win sends markets into parallel realities

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Francesco Guerrera

LONDON, Nov 6 (Reuters Breakingviews) - The Republican candidate’s clear election victory raised hopes of tax cuts and deregulation, sparking euphoria in US stocks, crypto and the dollar. Yet soaring yields on 30-year Treasury bonds reflect fears of future fiscal trouble. Investors cherry-pick policies at their peril.

Full view will be published shortly.

Follow @guerreraf72 on X

CONTEXT NEWS

Wall Street’s main equity indexes soared to new highs on Nov. 6 after Republican candidate Donald Trump won the U.S. presidential election. The benchmark S&P 500 Index of large U.S. companies was more than 2% higher at 1530 GMT. The Russell 2000 Index, which includes smaller companies, jumped nearly 5%.

However, U.S. government bonds sold off sharply amid fears that Trump’s promise of draconian trade tariffs and fiscal splurges will lead to ever larger deficit and debt burdens. Yields on the benchmark 10-year U.S. government bonds touched 4.453% at 1038 GMT, the highest level since July.

(Editing by Peter Thal Larsen and Pranav Kiran)

((For previous columns by the author, Reuters customers can click on GUERRERA/francesco.guerrera@thomsonreuters.com))

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