John Bogle, founder of Vanguard, comments on Trump's moves on the DOL's Fiduciary Rule. He argues that broker-dealers, with the help of the Trump administration, are trying to close the stable door. But the horse has already bolted.
Trump won most of the Midwest on the promise to bring manufacturing jobs back by renegotiating NAFTA, among other methods. It will be interesting to see how the unemployment rates in the Midwest progress over the coming four years.
In this quarter's CIO commentary, we take a look at the winners and losers coming out of the Trump victory, make a deep dive into the risk-reward tradeoffs offered you US equities at the moment, and name the one US foreign relationship to watch most closely in the Trump era.
We look at the market reaction to Trump's 'surprise' victory, try to glean what the market is telling us about the next four years, and how we plan to invest in this new world.