November 10 -- Donald Trump, the 70-year-old real estate magnate and president-elect, has made pledges including cutting taxes and spending as much as $500 billion on infrastructure. His proposals would boost the nation’s debt by $5.3 trillion, the non-partisan Committee for a Responsible Federal Budget estimated. The government’s marketable debt has already more than doubled under Barack Obama, to a record of almost $14 trillion. The market-implied chance of a December rate hike by the Fed is 82 percent, compared with 76 percent at the end of last week, according to fed fund futures data compiled by Bloomberg. Principal Global Investors Chief Executive Officer Jim McCaughan discusses with Guy Johnson and Caroline Hyde on "Bloomberg Markets: European Open."