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Merrill Lynch Analyst Got Standing ‘O’ from 300 Co-Workers Morning After the Election
When David Woo got to work at Bank of America Merrill Lynch on the morning after the election, the most he was expecting was, perhaps, some congratulatory handshakes for predicting the market rally that followed Donald Trump's stunning victory. Instead, the analyst told CNBC on Thursday, he got roaring applause.
"I got a standing ovation, actually, on the trading floor on November 9." Woo told "Squawk Box." Woo had predicted that a Donald Trump victory would turn the market on its head.
"It was the coolest thing in my life, I'm telling you," said Woo, who heads BofAML's global rates and currencies research.
On CNBC's "Street Signs" in September, Woo said markets were failing to accurately price in the probability of a Trump win, almost treating the election as a "nonevent." He said then that if Trump won, it would bring about a stronger dollar thanks to fiscal stimulus.
Needless to say, the stock market rallied on Nov. 9, with the Dow rising more than 250 points- and has continued ever since.
