Lots of anti-Trump sentiment here - not sure whether to be surprised by that or not.
Right now, the market is re-pricing in anticipation of lots of Trump campaign promises and expected moves. Lower corporate taxes, provisions for repatriation of funds held outside the US, less regulation overall and a pragmatic approach to running the country are all starting to be priced in to equities right now. On a macro level, the Russell has had a bit of a run in the small cap area. I would expect the small caps to outperform if most of the above happens.
If Trump moves toward heavy infrastructure spending, I think inflation could pick up dramatically - which SHOULD mean a return to more historically normalized interest rates. There isn't the slack in the labor market to do the work, so wages would have to rise as demand picks up and new workers are scarce.
A pragmatic approach to this stuff should also yield significantly increased volatility in my opinion. I think Trump will attempt some moves that will yield unexpected results at first - then he will need to make some adjustments. In the end I think he'll do fine, but the path might be quite bumpy.
