Trump transactions are still not fully priced in

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It’s all done. Donald Trump will be US President again. He will have a majority in the Senate and probably also in the House of Representatives. Now we need to talk about the Trump trade that comes with it. Points of Return has warned that a Trump victory is already priced in, bringing with it the risk of a nasty shock if he loses. Whether it was because of the unwinding of those trades in recent days or the surprisingly complete nature of his victory, on Wednesday that proved to be wrong. It was the best post-election day for the US stock market in history.