Financial markets have steadied after the European open this morning. This follows a large sell off in the equity space, US dollar and Mexican Peso as it became clearer that Trump would be the 45th President of the United States. Using the futures market metric the likelihood of a rate hike in December has dropped to 50 percent, down from the highs of 80 percent seen over the past week. The peso had weakened to record levels, with USDMXN reaching 20.78 before retreating to 19.85 in recent trade. The reduced turbulence in markets comes after a relatively sober victory speech by Trump; moreover markets remain conflicted as to what his policies will be and if he will be able to execute them as President. We’ve also witnessed moves in Russian financial assets, with Moscow looking to improve its ties with US under a Trump presidency. The Micex index gained 1.4 percent off the back of this news. The safe haven assets of gold and yen have scaled back their gains from overnight. Gold reached $1337 an ounce, now currently trading near the $1300 handle.