Voltaire's Candide saw that "All is for the best in the best of all possible worlds." Financial markets appear to be doing the same with U.S. President-elect Donald Trump's economic program, assuming that he can produce a set of policies that will further strengthen the American economy.
Although there had been concern in financial markets prior to the election about the possibility of a major sell-down in the event of a Trump victory, U.S. equity markets have rallied since Nov. 8 to record highs. Markets have applauded the likelihood of expansionary fiscal policy taking over from loose monetary policy.
