During the campaign, a group of bankers from around the country -- plane tickets in hand -- were looking forward to meeting the candidate in the flesh at Trump Tower in midtown Manhattan. They were going to get a chance to hear from his own mouth what he’d like to do with their industry. But at the last minute, Trump canceled and decided to spend his time elsewhere, so they never got the chance. They weren’t alone. Trump, the apparent president-elect, didn’t spend much time on the campaign trail discussing banks -- not nearly as much as Hillary Clinton did in her primary battle with Bernie Sanders. For Wall Street, which loathes unpredictability, Trump is an absolute wild card.
Buoyed by experimental voter projections, the sentiment was captured by pollster Frank Luntz — widely followed by money managers — who at 6.43pm New York time tweeted: “Hillary Clinton will be the next president of the United States.” But as it became clear Florida had gone to Trump, fear set in. At 9.41pm came another tweet from Mr Luntz: “I am being inundated by hedge fund managers. They are worried about the markets.” Later on, he said: “All of tonight’s exit polls were wrong, and I was wrong for citing them.”
"The initial reaction in markets was violent," said Saxo Bank head of FX strategy John Hardy. "But if you look at it across markets you are seeing a pretty decent reversal off the spike." The mild 0.7 percent dip in European stocks was nowhere near as bad as the 4 percent plunge futures markets had indicated and the near 9 percent slump they initially suffered after the UK Brexit vote.
A team of strategists at the bank said investors would need more time to determine whether Trump, a Republican, ends up being more pro-growth or more protectionist before buying. "The 'surprise' result will encourage investors to protect still-reasonable YTD gains, and await more clarity about the new president's cabinet and policy priorities," the report said. "We would be skeptical about buying the dip."
In October, Paddy Power paid out £800,000 ($992,528) on a Clinton victory after a series of negative news stories threatened to derail Donald Trump's campaign. "We're in the business of making predictions and decided to put our neck on the line by paying out early on Hillary Clinton, but boy did we get it wrong," Paddy Power spokesperson Lewis Davey said in a statement Wednesday.
Donald Trump’s journey to victory in the U.S. presidential election prompted the biggest rally in five months for a Chinese stock that sounds like “Trump Wins Big” to Mandarin speakers. “Aunt Hillary” fell. Wisesoft Co., whose local-language name “Chuan Da Zhi Sheng” sounds like “Trump Wins Big,” closed 6.4 percent higher with trading volume six times the three-month average. Yunnan Xiyi Industrial Co., or “Aunt Hillary,” tumbled 10 percent. It was the only stock down by the daily limit among nearly 3,000 A shares listed in mainland China.
Mr Trump’s victory overnight sent shares in Mylan and Pfizer – two of the biggest drugmakers in the US – shooting 6 per cent higher in pre-market trading. Merck and Johnson & Johnson were both up more than 2 per cent while Eli Lilly rose 3.4 per cent. Even beleaguered Valeant, which shed more than a fifth of its value on Tuesday after warning its profits and sales would continue to tumble next year, bounced back 3.5 per cent.
Saying their rosy attitude about the state of the election was not helping anything given what is currently transpiring, sources confirmed Tuesday night that the nation’s optimists need to seriously shut the fuck up as soon as humanly fucking possible.