Fireworks.
Following the car crash of a presidential debate and an apparent outbreak of civil war in the Democratic party, Wall Street strategists and traders have already begun gaming out how an increasingly-likely Trump victory in November will look, especially as it was further enhanced by Monday’s Supreme Court decision on presidential immunity. As one analyst put it; “It’s still too soon to fully price in an election outcome, but probably not too early to leg into it”.
The sense is that a second Trump presidency would drive market interest rates higher on the back of the prospect of the widespread…
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