11/06/2024

'Trump Trade' Surges as the Former President Claims Victory

Election results could impact U.S. tax, trade policy

Investors bought dollars, bitcoin and stocks, and sold bonds as Donald Trump claimed victory in the U.S. presidential election and Republicans took control of at least one chamber of Congress.

U.S. stock futures hit record highs, the dollar surged and Treasury yields jumped, while bitcoin broke $75,000 for the first time - all moves flagged by investors as likely should Trump win over Democratic Presidential Candidate Kamala Harris.

"Not only are markets positioning themselves for a comfortable Trump victory in the electoral college, but the prospect of a Republican-controlled Congress," said Matthew Ryan, head of market strategy at Ebury.

Please select this link to read the complete article from Reuters.