In a shock to most people and pundits the world over, Donald Trump was elected by the American people to be the next President of the USA. Despite loosing the Popular vote to Democratic rival Hillary Clinton, Trump won the electoral college (and thus the presidency) comfortably with a much stronger than expected showing in the Midwest cementing his victory.
Markets reacted initally with shock, the effect was immediate and dramatic but has since stabilised as the market has processed this information. Locally the reaction was felt negatively with the Rand loosing value as well as the JSE falling upon opening.
We discuss these events as well as other economic news of the week with Andre Botha of TreasuryOne.
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