Markets in wait and see mode as Trump settles in

The reflation play founded on hopes of large fiscal stimulus from the incoming administration seems to have floundered over the past three weeks.The other theme featured here previously was this: If the Trump administration starts a trade war, then it is probable that Asian markets will decouple from, or at least reduce, their reliance on Wall Street. Following Friday's inauguration speech by Mr Donald Trump, where he emphasised that he will place America's interests ahead of everything else, a decoupling in the months ahead now looks increasingly likely.

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