1. From fear to FOMO.

The market is betting big that the Trump administration’s policies will be pro-business and pro-markets, leading to a red-hot rally in risk assets.

8 of 11 sectors closed green, with financials (+6.08%) leading and real estate and utilities lagging.

Over $1.28 trillion added to the US stock market today and $64 billion gain for world’s 10 richest.

2. US bond yields jumped.

If Trump is about to unleash major fiscal stimulus on the economy, that could stoke inflation.

Once again, bond traders and equity traders are out of sync.

3. Focus shifts to the Federal Reserve’s interest-rate decision this evening.

Economists widely expect a quarter-point move, followed by another in December.

In total, no more than 4 cuts are priced into the next 12 months.

4. “Republican House control could enable corporate tax reform, potentially reducing the tax rate from 21% to 15% and increasing EPS estimates by 4%”.

Study by Goldman Sachs.

5. If the Trump tariffs will be inflationary and the Trump tax cuts will blow up the fiscal deficit, why are gold and goldminers down?

6. Tesla could soar to a Market Cap of $1 trillion during Trump's presidency, says Wedbush analyst Dan Ives.

With a direct line to the White House, Musk may have a shot at clearing regulatory hurdles for autonomous robotaxis and getting congress to approve a national standard for self-driving cars.

7. It was all “America first” today.

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