"The Impact of a Second Trump Term on Market Sentiment"
UBS strategists caution that investors may be mistakenly assuming a second Trump term would mirror the first in terms of market performance, pointing out that the current economic and market conditions differ significantly from those at the start of Trump's first term. They expect a partial extension of Trump's 2017 tax cuts and anticipate a Republican sweep initially favoring financial markets, but with smaller long-term gains compared to Democratic sweeps.