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One Trader’s Take On Trump’s Inauguration Speech

"Markets will be shy about a knee-jerk buy-the-rumor, sell- the-fact reaction. But those so inclined will be just as watchful and eager for the right time to do it."

It won't be long now. https://twitter.com/realDonaldTrump/status/822421390125043713 The market will of course parse the inauguration speech for any clues about the timing and scope of fiscal stimulus and/or tax cuts. Traders will also be anxious to hear any details about whether the new President will be open to implementing the GOP's border tax proposal (which Trump has called "too complicated") - as a reminder that has implications for all kind of things, including the dollar and crude (think WTI-Brent spreads). In reality though, we'll likely get "good guy, presidential Trump," not "bad guy, provocateur Tump"- unless he just decides mid-speech to say f*ck it and wing it (which would at least add an element of humor to an otherwise deeply disturbing spectacle). At most, we might get a hint here or there about global trade - otherwise I doubt they'll be much for traders to latch on to. Speaking of traders, below, find Richard Breslow's take on Friday's festivities. Via Bloomberg's Richard Breslow When Donald Trump gave his sole press conference, it was awaited like few other events of its type. Domestically and globally. We thought we would have all kinds of questions ans
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