The incoming Trump administration's plans, if enacted, would involve a large increase in the US government's debt. For years, this hasn't been a problem for markets. But once again, Wall Street is asking if this time will be different.
Taking Musk's government efficiency department as a joke underestimates what he might do with this newfound power.
The recent surge in stocks is absolutely explained by the Trump trade. But it's not the only thing going on: There are other reasons why the FOMO trade is back.
