Investors are betting the Trump administration will run the economy “hot” ahead of midterm elections, with buoyant stocks and a weaker dollar reflecting expectations of strong growth and rising inflation.
A string of robust economic data has defied predictions of a slowdown in the US, sending credit spreads to the tightest levels of the century and helping stocks hit fresh record highs this month.
At the same time, fund managers said there is a growing belief that President Donald Trump’s tax cuts, deregulation push and campaign for lower interest rates will add more fuel to the economy this year, as the president seeks to bolster support ahead of November’s congressional polls.
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