UP senior fellow and economist extraordinaire EJ Antoni writes:

We reported on the Bessent memo back in February, when the media was mocking Trump’s argument that stocks were rallying along with his rising polls. This was Bessent’s exhibit A. It shows that stocks were inversely related to Democrats’ chances of winning the White House.

When the Democrats swapped Kamala in for Joe and she initially soared in the polls, stocks swooned.

And this was all verified by the massive gain in stocks when Trump was announced the winner on Tuesday night. Bessent’s defense of Trump’s claim that he was good news was right.