Healthcare weaker on Trump comments:

Healthcare worst performer today. Biotech and pharma under outsized pressure. Renewed scrutiny surrounding drug pricing getting the blame. In interview with Time Magazine, Trump said that “I’m going to bring down drug prices. I don’t like what’s happened with drug prices.” Recall that in initial aftermath of the election, biotech and pharma rallied on thoughts […]

Economists not as upbeat on growth as Trump:

Despite all the positive sentiment surrounding the reflation trade, there has been a recent pickup in concerns that fiscal stimulus expectations may be somewhat overdone. Much of the discussion has revolved around the growth headwinds from demographics and sluggish productivity trends, though there has also been some focus on the complications of corporate tax reform […]

Trump announces he’s leaving his businesses:

In a series of tweets this morning, President-Elect Donald Trump announced that he would be holding a press conference in New York City on 15-Dec to discuss leaving his business “in total” in order to fully focus on running the country. Said legal documents being crafted to take him completely out of business operations, though […]

Romney under active consideration for Secretary of State; still no decision on Treasury Secretary:

Vice President-Elect Mike Pence confirmed on Sunday that former Massachusetts Governor Mitt Romney is under “active consideration” for the Secretary of State position. Followed a meeting between President-Elect Trump and Romney, one of his fiercest GOP critics, on Saturday. South Carolina Governor Nikki Haley and former New York Mayor Rudy Giuliani reported to still be […]

Trade a big wildcard under Trump:

Post-election narrative has been dominated by reflation theme driven by expectations for near-term tax reform, deregulation and infrastructure spending. However, still a lot concern about growth headwinds from potential immigration and trade policies. Latter a widely discussed area of uncertainty. WSJ noted that inside Trump’s economic team are two very different views on trade. Pointed […]

For US Businesses, lot of uncertainty about which Trump they will get as president:

While broader market continues to benefit from post-election reflation trade, uncertainty dynamic surrounding a Trump presidency continues to generate a lot of attention. WSJ discussed how US businesses witnessed two very different sides of Donald Trump during the campaign. Pointed out that sometimes Trump was the populist who railed against elites, global trade and immigration. […]

Trump dialing back (some) campaign pledges (including full repeal of Obamacare):

Still a meaningful amount of policy uncertainty when it comes to a Trump administration, though the President-elect has offered a few hints in recent interviews. Told both WSJ and 60 Minutes would consider leaving certain parts of Obamacare, including maintaining the prohibition against insurers denying coverage because of patients’ existing conditions, and a provision that […]

Latest batch of Trump headlines play into uncertainty concerns:

Early market reaction to Trump victory has been very positive. Focus has been on perceived distinction between candidate Trump and President Trump, Fiscal stimulus expectations have also played a meaningful role. While not all directly market related, latest batch of headlines has played into some of the longstanding uncertainty concerns surrounding a Trump presidency. Lot […]