london ifr prospect donald trump become next u.s. president usher period increase public spend de-globalisation adequately price bond market market participants warn trump currently candidate republican nomination u.s. president could prove disruptive global market come power bring policies match radical nature rhetoric think one big uncertainty far ignore market donald trump happen elect patrick barbe chief investment officer european sovereign aggregate bnp paribas investment partner tell ifr specific policies yet tone say suggest increase wag expansion public sector rise government expense everything bond market tend like u.s. market affect repercussions could felt throughout world us still account large chunk world gdp 22 percent 2014 accord world bank trump week record comprehensive victory new york primary inject renew momentum campaign become republican nominee vote schedule november limit effect bond market far us treasuries tend trade much rat expectations political risk far year 10-year ust yield drop much 36bp since start year 1.88 percent accord eikon price moreover little research analysis do subject point though likely change nomination process continue think market fully think implications trump u.s. president definitely move agenda say david riley head credit strategy bluebay asset management view populist politics typically also associate protectionist economic policies certainly concern would isolationist protectionist u.s. would reinforce fear era globalization would enter era de-globalisation issuers front-run public sector market record level us dollar bond issuance month partly ssa issuers look get borrow do ahead political risk associate u.s. election market condition primarily drive issuance look solid moment u.s. election cause uncertainty close get lot people get ahead events say one syndicate official cover public sector debt 38.9 billion u.s. dollar bond issuance month-to-date public sector issuers accord ifr data lead like washington-based supras world bank inter-american development bank week still go comfortably us 35bn raise january traditionally busy month year ssa sector market ignore trump presidential bid peril