The surprise US election victory by Donald Trump has greatly increased uncertainty, yet asset prices are now back at similar levels as just a couple of days ago when a Clinton victory looked more likely.
Things may look good right now, but they could deteriorate quickly, believes LGIM’s James Carrick. However, others believe the US economy will continue to power ahead.
Return expectations from US equities among asset management companies are at a post-financial crisis low. EM equities may look cheap after last week’s correction, but asset managers have their reasons to stay sceptical.