Market Intelligence—19.11.24
Macroeconomics
Everyone knows the outcome of the US presidential election now. It was a clear victory for Donald Trump in the end. It seems US voters were guided in their decision by national concerns rather than by questions of global security, free trade or foreign policy. This must be accepted; the decision of the voters is a cornerstone of democracy. The next four years will certainly bring many changes. The convictions of the new-old president and his administration will certainly provoke a lot of reaction, and possibly also conflicts. Much of what is considered important in other regions, especially in Europe, seems to mean relatively little to the new president, and on many crucial issues he also takes diametrically different positions. It remains to be seen what impact this will have on the global economy, trade relations and political relations. One thing is for sure: it will not be easy.
