Wall Street at record highs on Trump victory, investors dumping bonds for stocks - BBH

Analysts at Brown Brothers Harriman noted the turnaround in markets and notably the rally in US stocks after Trump's victory.

Key Quotes:

"On November 4, the S&P closed at four-month lows (~2085), but the nine-day drop ended with a four-day, almost 5% advance before a minor bout of profit-taking was seen ahead of the weekend. The rally carried the S&P 500 back to the late-September/early-October congestion in the 2160-2170 area."

"There was talk of investors shifting from bonds to stocks."  

"Globally, equity valuations rose by roughly one trillion dollars, while bond valuations fell by nearly as much.  Technical indicators do not seem to stand in the way of a run toward the record high set in August near 2194."

"The Dow Jones Industrials set record highs in last two sessions."