Donald Trump loses allies after elections in Serbia and Brazil

Donald Trump has lost allies after elections in Serbia and Brazil. This is significant because it shows that his influence is waning globally, particularly in countries where his right-wing ideology was seen as appealing. The losses in Serbia and Brazil come on top of recent setbacks for other conservative leaders, including Benjamin Netanyahu in Israel, and Flavio Bolsonaro in Brazil who failed to gain power. This trend suggests that Trump's brand of politics may be less popular than he thought.

Why it matters

The loss of allies for Donald Trump may lead to increased political instability. This could negatively impact investor sentiment and lead to a decrease in US asset values.

Market impact

Markets & countries in focus

Transmission channels

Likely winners & losers

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