Investors should watch out for the tail risk in Trump's trade policy

Shannon Stapleton Investors have generally been “risk on” since Donald Trump’s victory on 8 November. Are they right? Most investors seem to be primarily focused on President-elect Trump’s “Goldilocks” mix of pro-growth economic policies that includes tax reform, infrastructure spending and broad deregulation – which may be expedited by Republican one-party control in Washington. But when it comes to Trump’s more draconian policies on trade and immigration, many investors seem to...