John Authers, Columnist

What’s Different Between 2016 Trump Trade and Now

Higher interest rates and already-expensive stocks will put a lower ceiling on any market advance.

October 29, 2024 at 4:33 AM UTC

John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”

Ballots to be counted in Renton, Washington.
Photographer: David Ryder/Bloomberg

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The Trump trade is back in full sway, and many believe that we’re heading for a repeat of 2016. In other words, Donald Trump might well win next week’s presidential election, just as he did the one eight years ago. We’ll find out soon enough, but for the potential market consequences, there are some very important differences.