Welcome to the November edition of our newsletter.
After a seemingly long and difficult campaign, Donald Trump has been elected president of the United States with the Republican Party likely retaining control of the House, and probably the Senate, in Congress.
Just as we saw with the Brexit vote, the combination of rising inequality, stagnant middle incomes and the disenchantment of white non-college educated males has seen a backlash against the establishment and helped deliver victory for Trump.
This newsletter looks at the implications of his victory, and the potential effects on markets and the Australian dollar.