• THE BIG PICTURE
London often benefits from upheaval in the US and may do so again this time, some City executives reckon.
Just hours after the vote, an FN Breakfast Briefing found some grounds for optimism. Trump the team player? It’s possible.
NYU Stern professor and former Goldman partner Roy C. Smith also strikes an optimistic note, saying that now the campaign is over Trump should be able to start attracting talented advisers.
FN rounded up the first reactions as the news was still fresh, from Martin Gilbert, Sharon Bowles, Jon Moulton and many more.
• BANKS IN THE TRUMP WORLD
The uncertainty will put a chill on big-ticket M&A, dealmakers reckon. Some existing deals may struggle to complete.
Regulation under Trump could be positive for banks (and fund managers too), say the research team at Keefe, Bruyette and Woods.
But don’t bet that Trump’s Make America Great Again will also mean Make Wall Street Great Again comments Mark Cobley.
US bank stocks lifted on open. But overall the outlook for Wall Street is cloudy.
• IMPACT ON INVESTMENTS
Emerging markets are wobbling because of fears of a trade war – and that’s bad news for emerging markets-focused fund managers including Ashmore and Aberdeen.
WSJ’s James Mackintosh reckons the Trump presidency may be poor for markets but it won’t be his fault.
An economist at Berenberg says the vote will make it easier for Mario Draghi to extend the bank’s €1.7 trillion quantitative easing programme.
Private equity execs in the US should fear a Trump tax rise and relish a Trump tax cut.
• TRADERS IN THE FIRING LINE
Traders had hoped for the stability of a Clinton victory and were left in shock at the vote.
Trading got off to a roaring start in Europe but it wasn’t at the crazy levels seen after the June 23 Brexit vote.