Donald Trump’s unexpected U.S. election victory has rippled through markets, putting a number of asset classes into outsized moves over the course of the last week. BNN has collected a list of some of the biggest winners and losers in the wake of his march to the White House.

Loser: U.S. bond prices

Prices for five and 10-year U.S. Treasury notes have been hammered in the wake of Trump’s victory. The fear is that his policies – such as cutting taxes and spending billions on infrastructure – are conducive to higher inflation, which would erode the value on interest payments from the notes.

 

Winner: U.S. financials 

U.S. financial stocks are getting a boost over the course of the last week, as U.S. President-elect Trump pledges to ease the regulatory burden on banks, including changes to the Dodd-Frank act. American banks would also be benefactors of a U.S. Federal Reserve rate hike, which is all but certain at the December meeting now that the impediment of the U.S. election has passed.

 

Loser: Emerging markets 

Emerging markets are taking a hit on concerns of protectionist policy emanating not just from the White House, but also the Republican-controlled Senate and House of Representatives. Trump’s campaign promises were rife with promises to bring jobs back to America, and imposing heavy tariffs on imports from lower-cost jurisdictions.

Winner: Health care stocks

Health care and biotechnology stocks are getting a boost after a heavy selloff this year due to Hillary Clinton’s pledge to crack down on aggressive drug price increases. The sector is also being pushed higher by Trump’s pledges to dismantle the Affordable Care Act, commonly referred to as Obamacare.

Loser: Mexican peso

The Mexican peso is the worst-performing currency of the year, in no small part due to Trump’s victory. The Mexican economy was squarely in the U.S. president-elect’s crosshairs over the course of the election, with Trump pledging to hike tariffs on Mexican goods in an effort to bolster American manufacturing competitiveness.

Winner: Defense stocks

Trump’s plans have sent Lockheed Martin (LMT.N), General Dynamics (GD.N) and Raytheon (RTN.N) on a tear over the last week, as pledges to increase military spending bodes well for defense stocks. Trump has pledged to end the budget sequestration in place since 2013, which would free up funds for new equipment.