Trump 2.1 Arrives With a Whimper Rather Than a Bang
His second presidential win has been accompanied by far more excitement, but consumers are becoming dubious.
American exceptionalism in question as Trump trades reverse.
Photographer: NurPhoto/Getty Images
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Whatever happened to the Trump 2.0 American Exceptionalism Trade? With a pro-growth president devoted to deregulation, and bent on asserting US dominance over everyone else, the conventional wisdom was to pile into US assets and crypto, and brace for bond yields and the dollar to surge higher. All that happened in the weeks after the election. But since Donald Trump actually took office on Jan. 20, and particularly in the last week, all the Trump trades have reversed: