What fireworks! What a start to the new term of office with a bang - and in unbridled euphoria mode - with a shower of absolute or historic records on the 4 main US indices, following Donald Trump's grand slam - unexpected from the media's point of view.

It's a veritable tsunami of intraday/close record doubles (the 2 almost merging, absolute, with the appearance of impressive upward "gaps" the likes of which are only seen a handful of times per decade...

The Dow Jones (+3.57% to 43,730) reopened with a rare gap of +1,000pts (unprecedented in the 21st century), shattering the previous record of 43,325 set on October 18, in the wake of Goldman Sachs +13.1%, JP-Morgan +11.5%, Caterpillar +8.8%.
The S&P500 jumped by over 130pts (+2%) at the opening to 5,910 (vs. 5,875 on 17/10) and ended the day up 2.55% at 5,929.
The Nasdaq (+2.95%) set a record at 18,983pts vs. 19,000 intraday, in the wake of Intel +7.4%, Qualcomm +11.2%, Global Founders +13.1% and above all Tesla +14.8%.

And the picture would not be complete without the Russell-2000, the main beneficiary of an 'America First' watchword, which sent it soaring +5.85% to 2,392Pts, a score surpassed only once, 3 years ago, at the beginning of November 2021... here too we can speak of an all-time record.

Wall Street salutes a crystal-clear political scenario, with no suspense or unknowns: the triumph of the Republicans is total: they will take control of both houses of Congress.... for at least 2 years, giving Donald Trump carte blanche to roll out his tax cuts and stimulus measures, under the protection of increased customs duties against China, and even Europe... not forgetting Mexico and even Canada.

The main point of concern for the markets is the spectacular rise in yields: the US 30-yr yield is up +22.5pts to 4.675% (+20pts tonight), the 10-yr yield is up +21pts to 4.4860% (worst score since June 10 or July 1, ending at 4.47%, i.e. +19pts).

Note that the dollar jumped by +2% in the middle of the night, while the euro fell towards 1.0710/E as soon as Trump's victory appeared certain: the '$-Index' maintained a +1.8% lead this evening, and recorded its best score since July 4, above 105.25.

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