Although 'Trump trade' names have popped in the week following President-elect Donald Trump's victory, Societe Generale thinks the trend has more room to run.
Cryptocurrencies and banks have been on a tear since President-elect Donald Trump 's victory last week, and Societe Generale thinks these "Trump trades" have more room to run into January. The firm specifically underscored bank stocks, companies exposed to the reshoring theme, small-cap names and crypto. "Trump trades are in full bloom and should continue to outperform until Inauguration Day, in our view," U.S.
The SPDR Financial Select Sector Fund has also rallied more than 7% during that period. Meanwhile, bitcoin briefly topped $93,000 for the first time on Wednesday. Gallagher is not the only one on Wall Street who thinks the "Trump trade" has more legs. "The markets are already well into pricing a 'Trump trade' that began in September, but the year-end rally has more room to run," Jason Draho, head of asset allocation at UBS, said in a client note on Monday.
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