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Markets survive The Donald as GOP sweeps US

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An upset in the US presidential election overnight on Tuesday caught the world and its capital markets off-guard. Just like the Friday morning after the Brexit vote many awoke seemingly unprepared for a perilous open. But Donald Trump’s ascent to the White House, which so few capital markets participants wanted or predicted, has not disrupted market activity as much as might have been feared, for now.

Back in June, when the UK voted to leave the EU, some markets shut for days as investors and borrowers digested the shock verdict. Maybe they are more battle-hardened now, or maybe so pumped full of monetary policy drugs so as not to notice. But given the scale of Wednesday morning’s upset, markets barely paused for breath with deals abound on Thursday.

Indeed, attention has now largely turned to December’s US Federal Reserve meeting and the Italian referendum as the next big risk events, with little clarity about whether president Trump will be friend or foe to markets.

GlobalCapital brings you full coverage of how primary capital markets took a step into the unknown this week and how they are likely to react in the coming days and weeks.

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