Markets Award Trump Nobel Prize In Economics

It took only nine days in office for President Obama to be nominated for the Nobel Peace Prize.
Less than nine months later, the Norwegian Nobel Committee followed through and awarded Obama the Nobel Prize for ‘his extraordinary efforts to strengthen international diplomacy.’ That, despite the fact Obama had no significant diplomatic accomplishments.
Likewise, the markets seem to have prematurely greeted Trumponomics as an outstanding success. US stock indices continue to make all-time highs, the dollar is charging ahead, and bond markets are being trashed.
Furthermore, the latest Fund Manager Survey by Bank of America shows growth and inflation expectations at the second-highest level since 2004.
In short, US equity markets are already factoring in Trump’s draining of the swamp, his implementation of regulatory reforms, and the rollback of poor policies that trip up the American economy, while bond markets are pricing in higher inflation.
There’s just one thing: Trump hasn’t done anything yet. We’re still weeks away from his inauguration, and details of his economic plans remain scarce.

This post was published at Zero Hedge on Dec 18, 2016.