Posted on 07/21/2024 10:42:12 PM PDT by lasereye
Investors have been amassing wagers on Donald Trump’s return to the White House for weeks, trimming holdings of long-term US bonds and buying Bitcoin, among other things. Now, they’re considering whether Joe Biden’s exit from the race boosts the odds of a Democrat victory — and how much they must recalibrate their bets.
Though the announcement was widely expected as the 81-year-old faced pressure from allies, it injects a wild card into the campaign that will likely translate into volatility for markets.
“This means more uncertainty,” said Gene Munster, co-founder and managing partner at Deepwater Asset Management. “There was a lot of confidence about Trump winning, and markets won’t like this new uncertainty, along with the news cycle about who is in, who is out, and all those unknowns.”
Biden’s announcement Sunday that he was ending his effort to seek another term and endorsing Vice President Kamala Harris is the latest of several political shocks absorbed by markets in recent weeks.
First, Biden stumbled through a disastrous debate performance against Trump, prompting investors to rapidly downgrade his chances of winning the election. Then, there was the failed assassination attempt against Trump, which only deepened the sense among many in the market that he’d win in November.
As investors digest the latest news, the Trump trade — favoring sectors and strategies seen as benefiting from the Republican’s advocacy of looser fiscal policy, higher trade tariffs and weaker regulations — is likely to face headwinds.
Markets may be jumpy as traders wait to see if Harris secures her party’s nomination and gathers enough momentum to challenge Trump’s lead in the polls. As traders await new polls reflecting Biden’s absence, betting market PredictIt has Harris as the favorite to become the Democratic nominee, but Trump still favored to win the presidency.
(Excerpt) Read more at finance.yahoo.com ...
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I am waiting to see whether Harris repeats the same lies as Biden. In particular the ones that Biden himself made up, such as inflation was 9% when she and Biden took office and Trump was responsible for 1 million Covid deaths. I expect she will repeat them. Polls showed support for both Trump and Biden dropped after the debate. Biden's dropped more, so it was seen as a win for Trump. I believe Trump's decline was because Biden's lies had an impact.
Yeah, here comes the old “horse race” ponypoop stuff again...
Agreed.
Trump’s going to win.
These gentlemen need not
hedge their bets.
There are several states that simply won’t allow a change in candidates on the ticket this close to the election so they won’t even be on the ticket, which is a huge problem for the Dumbocrats.
If Biden dies it fixes that issue and he ain’t been seen for a few days.
The Covid angle will be very convenient to explain Biden’s unexpected demise.
The WH would issue a statement with something like this:
“We regret to report that President Biden has suffered a sudden decline in his battle with Covid. Despite all efforts by medical personnel, sadly he passed away.”
Very good possibility something along those lines is already operational
The consortium of marxists pulling the strings are not wanting America to survive this election. Burning down the house.
Old Joe checks out (conveniently). Harris falls flat on her face as President and the chosen one wins the convention. Did I miss anything? Oh, and they cheat in November and steal another election.
My money is on Gavin being the chosen one. He is even greasier than the bent one was and lies with a big toothy grin. Reminds me of Frank Gorshin as "The Riddler".
Do we have a President?
What is his/her name?
Do we need a president when his name is Biden?
Do we have a President?
What is his/her name?
Do we need a president when his name is Biden?
As of July 22, 2024, Predictit values Trump winning at 60 cents, Harris winning at 39 cents, and RFK Jr. winning at only 2 cents. Bettors are still favoring Trump to win though Harris is an overwhelming favorite to win the Democratic nomination for President. She is at 84 cents and Michelle Obama is at 6 cents.
Whoever put out a contract on Trump may be very disappointed and try again, Double his personal life guard and know that the danger to Trump has not passed.
and that paper where he said he was resigning did not have the President seal on it.
Riddler/Gorshin. God lord man you gotta be old as me. Be Safe pard. 👌
True. You think he knows he’s not running? Asking for old Joe. 🤪
Follow the “Short” leading up to July 12. Bet not random, shot not random
Only thing that will stop this 💩 is for us to get activated, but we need to get to the WH first. Otherwise, the left will use the corrupt DOJ to exterminate us. It’s a complicated issue. Unless you’re willing to just do it. “Damn the Torpedoes “ if you will. Until then we are just jerking off. IMO
yahoo is no friend to DJT
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