Donald Trump's announcement comes as little surprise to investors, as the former US president had telegraphed the possibility he might run again for some time.
‘s entry on Tuesday, November 15, into the 2024 presidential race confirmed the world’s “worst-kept secret” and created another variable for markets that some investors say remains a low priority for now.
“I don’t think the announcement means much as people thought it would – and with a weaker showing at the midterms it reduces the likelihood of nomination,” said Joshua Crabb, head of Asia-Pacific equities at investment manager Robeco.Politics have largely taken a back seat for Wall Street this year, with macroeconomic concerns andTrump’s announcement, meanwhile, came as little surprise to investors, as the former president had telegraphed the possibility he might run again for some time.
Chances are, it is unlikely to bear much resemblance to the present one, or to the backdrop that predominated Trump’s term, which ran from 2017 to 2021 and was notable for comparatively low inflation and a much less hawkish Fed. “If anything, his decision to run may accentuate the divisions going on amongst Republicans, with many blaming him for their poor midterm election showing,” said Shane Oliver, head of investment strategy at AMP in Sydney. “These divisions may even lessen the chance of a more market-friendly Republican administration gaining the presidency in 2024 so some investors may actually see it as a negative for markets.
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