After one nail-biter of an election night, a surprise Trump win… and look at those markets go! In the lower quadrant of Bloomberg today there was a story about the Fed being on track for a December rate hike, and it’s really hard to judge whether the threat of such was having an impact.
The interesting thing that I noticed is that despite the bit of a bullish market reaction to the election outcome, oil prices are down slightly after an extremely small day-after bounce. As one of the dajeeps back of the envelope demand indicators, that is something to keep an eye on. With oil prices hardly taking notice of Trump’s win, it could mean that the market honeymoon with Trump may not be long-lived. Not a thing has changed in the inflation and job phobias at the Fed, and the oil markets are likely reminding us of that.
PS: The only thing that is the end of the world is – The end of the world.
PPS: I’ve been promoted to engineering team lead, having seven engineers on my team. After four days on the job, a huge services roll out and an outage to deal with, I am just finding out what I said “yes” to… may God have mercy.