Elections are supposed to clarify policy uncertainties and on the economic front, Donald Trump’s victory over Kamala Harris has done just that.
All three major U.S. stock indices and U.S. Treasury yields jumped the morning after Election Day, reflecting expectations of both strong economic growth and soaring debt and inflation.
On climate and (especially) environmental policy, another Trump presidency is clearly bad news, and it is exacerbated by extreme policy uncertainty and decidedly mixed signals, especially in cases where Trump may try to stand in the way of larger technological and market trends.
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