The Dow Jones Industrial Average (DJIA) broke through the historic 20,000 mark to close at 20,007, as the “Trump Trade” rally drove world stock prices higher on January 25. Traders’ enthusiasm was driven by a barrage of supply-side “America First” executive orders issued by President Donald Trump this week, that froze regulations, restricted federal non-military hiring, undermined Obamacare, and moved to build Keystone XL and Dakota Pipeline projects. The Kansas City Star also published leaked details of the initial 50 infrastructure projects that the Trump administration would seek to fund on a 50/50 split between the federal government and private developers. The proposals are estimated to cost $137.5 billion and generate tens of thousands of short-term construction jobs, while the completed projects would create 193,350 direct and 241,700 indirect long-term jobs. The bullish “risk on” 155-point price surge capped the second-fastest 1,000-point trip in the DJIA’s history, according to Bloomberg. “Trump Trade” enthusiasm whacked gold prices by almost 2 percent. With traders expecting a stronger U.S. economy to drive higher worldwide demand, the new German 30-year government bond auction was priced at an average yield of 1.20 percent, almost twice as the rate of 0.64 percent for a similar auction in October. Fear of protectionism spiked Chinese government bond yields to 3.34 percent, as Beijing authorities tightened loans to financial institutions in an effort to avoid a banking crisis. Trump’s team has been working with the non-partisan Office of Management and Budget to develop its budget and tax cut proposals, which are expected to reach Congress in the next 45 days. The new administration appears to also be sticking close to the Heritage Foundation’s “Blueprint for Balance: a federal budget for 2017” in a concerted effort to seek budget savings. Although it was widely reported by the mainstream media that that Donald Trump was only at 37 percent approval in the Quinnipiac University Poll on the cusp of his inaugural, a Rasmussen poll Wednesday morning gave President Trump a 57 percent approval rating. President Trump’s positive momentum is also driving populist movements across Europe challenge for control. The Netherlands’ right-wing nationalist Party for Freedom, led by Geert Wilders, is leading in voter polls, with 29.0 percent support for the March 15 elections. France’s Marine Le Pen and her right-wing populist National Front is leading with 26.2 percent for April 23 elections. And Germany’s right-wing populist and Eurosceptic Alternative for Germany is now in third place, with federal elections currently planned for September 24.