The more you listen to the current US administration the more you appreciate that they are prepared to sacrifice near-term market performance and economic growth if it's required to meet their longer-term objectives.
Deutsche Bank's Jim Reid shows in the following chart that for all the post-inauguration periods since 1937 (when the current January 20th date was fixed), this year has been flirting with being the second-worst for the S&P out of 23 election cycles. 2001 is the worst, back when the stock market collapse accelerated following the dot com bubble.
