This week is going to be… “interesting”. Confidence in the US financial markets and system is under pressure. The US owes more than $40 trillion. Bessent’s intervention in bond markets has backfired, the market is waiting to judge new Fed Head Kevin Warsh, and Trump has kicked off a new trade war with Canada. The USA’s Virtuous Sovereign Trinity of the Dollar, the Treasury Market, and Political Competency looks well-wobbly. Meanwhile, the latest documentary on Boeing shows how the myth of US exceptionalism is under pressure.
Let’s be dispassionate about the US election result. What kind of upside will a Bonfire of Regulations and Surging Confidence bring to markets? What are the risks of Trump’s new start for US markets? The next four years look… interesting.
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