A more pragmatic Trump?:

  • Big theme in the market in the wake of the election has been the notion of a more pragmatic Donald Trump. Started with the more conciliatory tone his victory speech. Comments from Trump advisors have also confirmed the pivot. Thomas Barak, an economic advisor, told the FT that Trump would move very slowly when it came to central bank changes and allow policymakers to remain independent. He stressed that markets correctly viewing a shift from candidate Trump to President Trump, who will be “deliberate, calm, conciliatory and predictable”. Harold Hamm, who could be the next energy secretary, also told the FT that Trump’s victory speech gave a good sense as to how he would perform as president. In addition, there seem to be some relatively positive takeaways from Trump’s initial conservations with foreign leaders. Yonhap reported Trump reaffirmed Washington’s security commitment to South Korea in a phone conservation with President Park Guen-hye. In addition, Kyodosaid Trump and Japanese Prime Minister Abe confirmed their resolve to working together to ensure stability in the Asian Pacific region.