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Treasury yields are red flag for markets’ Trump euphoria
Lex专栏:美国国债收益率对“特朗普亢奋”发出危险信号

Markets look through near-term loosening to medium-term picture for inflation and growth
市场正在透过近期宽松政策,来审视通胀和增长的中期前景。

High growth, high interest rates and high inflation as a combination did not work out so well for Joe Biden and Kamala Harris. Will Donald Trump fare any better? Last week, equity markets surged upon Trump’s election win. The S&P 500 was up almost 5 per cent and many financial stocks — banks, M&A advisers and private capital firms — jumped more than 10 or 15 per cent on belief that lighter regulation and more deals are on the way.

高增长、高利率和高通胀的组合对乔•拜登(Joe Biden)和卡玛拉•哈里斯(Kamala Harris)来说效果不太好。唐纳德•特朗普(Donald Trump)会表现得更好吗?上周,特朗普当选总统后,股市大涨。标普500指数(S&P 500)上涨了近5%,许多金融股——银行、并购顾问和私募股本公司——涨幅超过10%或15%,因为人们相信监管放松和更多交易即将到来。

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