I am in New York this week to see clients and prospects, which is why I haven't yet had time to say much about Mr. Trump snatching the prize or the crazy market moves that have followed. I don't see much change . The espresso in Murray Hill, served by Chinese immigrations, is exquisite as ever and New Yorkers remain notoriously impatient, and bad, drivers. I do notice a big increase in TV-ads for Range Rover and Jaguar, though, so maybe there is a concrete sign of the alleged rapprochement between the U.S. and the U.K. in the aftermath of Brexit and Mr. Trump's victory.
Read MoreAfter a week's break, and a detour, I am back in the saddle for a busy run-in to Christmas. The main market mover of note, while trawling the museums and bars of Paris, was that global equities finally showed a bit of weakness. The MSCI World slid 1.8% last week, down 4.8% from its peak in August, which means that the index is flat as a pancake year-to-date. A belated reaction to the recent mini tantrum in bond markets, or a knee-jerk reaction to tighter polls across the pond, are probably the lazy strategist's reason for the sell off. But it has been coming regardless.
Read More