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Trump’s pledge backtrack ‘good for the markets’, says analyst

Thursday, November 10, 2016 9:17
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A rally in European shares looked to have lost steam by afternoon after a strong start to trading – just a day after Donald Trump’s shock victory in the U.S. election.

Asked whether the so-called ‘Trump bump’ came as a surprise, Mike Van Dulken from Accendo Markets said: ”I think the very positive initial reaction took everybody by surprise and I think it came down to what was a rather gracious acceptance speech with not a hint of controversy”.

He added it’s still very early doors, ”there’s been a little bit of backtracking on some of the campaign pledges, which is probably a good thing seeing as so many were quite controversial, but I think the one markets are really focusing on right now is his potential to follow through on a pledge to spend pretty big and cut taxes by a fair way to foster growth and inflation which might allow the U.S. to almost be a first mover in terms of getting growth gowing.”

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