For investors who bought on the rumour, it is nearly time to sell on the news. They have spent months gripped by uncertainty over what America’s next president will do in office, as rumours have flown thick and fast. How high will tariffs rise, and how strongly will other countries retaliate? Will he really keep campaign-trail promises of mass deportations, sweeping deregulation or trillion-dollar tax cuts? What will it all mean for growth, inflation and asset prices? With Donald Trump’s inauguration on January 20th, answers will at last start to arrive.
