Trump Escalates Populism

its chance, of the story’s futures

−0.6%on the S&P 500, if it happens

Trump rejects Republican criticism and doubles down on the policies most associated with his base. The White House shifts toward executive action on trade, immigration, and federal spending to show strength after the midterm losses.

What it moves

Consumer Cyclicals−0.7%
Industrials−0.4%
Market volatility▲ up
Riskier companies' borrowing costs▲ up

Sectors in percent; other series by direction only.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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