Trump policy a big unknown - Nomura

Analysts at Nomura Details on Trump’s policy remain a big unknown for the market right now.  

Key Quotes:

"In his first TV interview with CBS, his priorities seem to be on healthcare reform, immigration and tax changes (while infrastructure spending and trade treaties were not mentioned). Furthermore,

Trump’s previous ‘celebrity apprentice’ status could risk Paul Ryan’s budget being implemented; tax cuts and not infrastructure spending.

This should still support higher yields and a stronger dollar, but it would not support markets that have priced a surge in infrastructure spending.

These markets include US capital goods and transportation stocks and industrial metals, whose prices have risen sharply."

A more favourable mix of fiscal & monetary policies for the US dollar - BTMU