Scotiabank economist Derek Holt says there are reasons for companies and markets to be very cautious about the future after the U.S. election. A surge in protectionism will almost certainly cloud the global economic outlook, becoming a headwind for U.S. and global growth. "Fiscal stimulus to the U.S. economy with excess demand will again trigger inflation risks and higher yields. The mixed effect of tax cuts and spending cuts is uncertain, but the former may exceed the post...