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Growth momentum is fuelling the global rally, not Trump

AFR |  05 March 2017  |  Economics

How big are the returns for good presidential behaviour? President Donald Trump last week gave a sedate but disciplined speech to Congress that lacked any specific financial commitments. The day after he spoke world markets rejoiced and indices hit all-time records.

Thursday brought the fabulously successful first day of trading in Snap, a popular internet messaging service. The market swiftly put a value on it of close to $US30 billion ($39.5 billion), amid scenes that were a throwback to the heyday of the internet mania in 1999 and 2000.

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