Macro Mondays | Markets React to Trump | 11|11|24

This week, market volatility took centre stage, spurred by the perceived inflationary policies under Trump. His election victory led to a steepening yield curve, with 10-year yields surging nearly 19 basis points, and market-based inflation expectations—like 5-year breakevens—also jumped significantly. Equities responded optimistically, with the S&P 500 up 3.3% and the Nasdaq climbing 4.5%, buoyed by hopes of deregulation. The energy sector’s reaction was mixed; Trump's past policies affe...