Global markets on alert for Biden exit as Trump-win trades mount

kwonjs77 (69)in #steem • 6 days ago

Summary

Certainly! Here are the key takeaways from the article:

Market Reaction: Traders are adjusting portfolios in response to speculation that President Joe Biden might drop out of the re-election race. Concerns about his age and performance in debates have led investors to prepare for a potential announcement during the Fourth of July holiday.
Contingency Plans: Investors are hedging against the risk by favoring the dollar and short-term debt. The consensus is that a re-election of Donald Trump would benefit assets tied to inflation, such as a strong dollar, higher US bond yields, and gains in bank, health, and energy stocks[^1^][1].
Global Impact: Even traders in Sydney are bracing for potential market shifts if Biden withdraws. The market appears to be betting on Trump winning the election[^2^][2].
Historical Context: No president has opted against seeking a second term since Lyndon Johnson in 1968, making this situation unique[^3^][3]. The election is just four months away.

6 days ago in #steem by kwonjs77 (69)