“What will ultimately be the fate of the Trump trade?”
“Is the reflation narrative dead or alive?”
Those are perhaps the most vexing questions facing markets today. We all want to know whether the story that drove the dollar, rates, and stocks higher into the new year will turn out to be little more than a myth.
While I don’t know the answer, I encourage you to have a look at the chart below, which shows how a variety of assets have performed both since the election and YTD. In other words, this is a visualization of the Trump trade fade…