There's a Trumpnado In the Bond Market

In conversations with investors over the past month, I sensed an unusual worry coming from the anticipation that a Donald Trump victory would mean a large selloff in the stock market, as he was clearly the less-predictable choice. My response then — that the market usually rallies after an election when there is no recession — was repeatedly met with skepticism. I think the market would have rallied if Hillary Clinton had won, too. The only difference is that different type of stocks and sectors would have been the leaders.