The much-touted Trump press conference was a classic case of “much ado about nothing”. There were expectations on some announcements pertaining to taxes and infrastructure spending. The speech dwelt a lot more on Russia, the media and said very little about the reformist noises that markets actually wanted to hear. On the other hand, Trump disappointed by being harsh on the pharma sector and on US companies outsourcing their activities to lesser-cost destinations in emerging markets. Here are the take-aways… Continue reading
