Jefferies: Warns Of A Bumpy Road Ahead As Populism Soars

Buy the consumer stocks. That is the investing advice out of Jefferies, as it expects wages to rise and labor to benefit more than capital under Trumponomics –policies expected from the Republican president-elect Donald Trump.

“The unfolding of Trump’s policies will occur at a time when wages are increasing,” the bank’s team led by Sean Darby, Jefferies’ chief global equity strategist, wrote in the report titled, “U.S. 2017: A Bumpy Road Ahead.”

“Owning domestic consumer names will be just as important as acquiring fiscal multipliers such as infrastructure and defense spending,” it added,...