We’ve probably already seen ‘peak Trump,’ says Pimco, with the Oval Office now constrained by courts and midterms

Markets had a lot to contend with over the past 12 months: tariffs, White House attacks on the U.S. Federal Reserve, and rising tensions with key trading partners, to name a few issues. But it seems “peak Trump” may now be over, as the Republican party must find a game plan to win the midterm elections, according to investment management firm Pimco.

The company’s head of public policy, Libby Cantrill, wrote in a note to clients this week that we have already seen and moved through “‘peak...