US stocks surge more than 2% to fresh record highs as stock investors celebrate Donald Trump’s re-election. But bond holders aren’t so sure. US Treasury yields jumped 18 basis points to a six-month high as traders bet on tax cuts, higher borrowing and growth. Meanwhile New Zealand’s jobless rate rises less than expected, and Malaysia holds rates. In our bonus Deep Dive interview, ANZ Head of FX Research Mahjabeen Zaman analyses the currency implications of that election win, following a sizeable jump in the US dollar overnight. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/