(Bloomberg) -- Investors are set to start the week scrambling to decide if President Joe Biden’s decision to end his reelection campaign and endorse Vice...
-- Investors are set to start the week scrambling to decide if President Joe Biden ’s decision to end his reelection campaign and endorse Vice President Kamala Harris increases or decreases Donald Trump ’s chances of regaining power.The earliest opportunity for traders to respond comes as trading in currency markets picks up in Asia’s early Monday session.
“Investors should expect a spike in volatility,” Dave Mazza, chief executive officer of Roundhill Financial, said before Sunday’s announcement. “If Vice President Harris can mobilize quickly to give Trump a material run, then we should expect volatility to linger. However, if Trump continues to pull ahead in the polls and investors view his win as inevitable, then the ‘Trump Trade’ will take over and volatility will decline.
The conclusion that Trump spells inflation has also seeped into the world’s biggest bond market, with traders embracing a wager that involves buying shorter-maturity notes and selling longer-term ones — known as a steepener trade. “I like commodities and commodity-related stocks because I do think the geopolitical risk has increased recently as some adversaries/competitors may view it as weakness and try and take advantage of what they perceive as confusion in the US,” said Peter Tchir, head of macro strategy at Academy Securities.
A second Trump term would ease regulatory and reimbursement headwinds weighing on the managed care stocks, RBC Capital Markets analyst Ben Hendrix said last month. The Biden administration’s support for electrification and blue and green hydrogen production has been a boon for clean-energy stocks. A November election win for Donald Trump will threaten $369 billion in US clean energy initiatives from the Biden administration’s landmark climate law, an analysis compiled by Bloomberg Intelligence shows.Bestselling author and faux hillbilly J.D. Vance is officially Donald Trump’s pick for vice president, God help us all.
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