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 ...
The Election bets show no movement either, Trump actually rebounded slightly.
Unnecessary now; they promised not to kill him.
Lets see, the narrative
another liberal unprecedented first, black women president
the cinderella story across the media
the media fawning and falling over each other has started
the old label has already went from Biden to trump
one old tired corrupt puppet replaced by a new shiny one same old strings attached
Maybe brother Frank does know something after all?
Agree. This won’t be the last
attempt.
“One would think that a letter to the people from the President announcing his decision to step aside would not be signed using a digital signature and would be accompanied by a photo op and a scheduled conference in the morning that followed.
Instead we have a digitally signed letter released on the president’s @X account, an account that we know that is run by a staffer, no photo and no live scheduled address to the American people.
If I were China I would invade Taiwan tomorrow.” Bill Ackman ( American billionaire hedge fund manager, who is the founder and chief executive officer of Pershing Square Capital Management)
Not to mention @BidenHQ is already gone, and Harris’s PAC is already registered with the FEC.
Safe and effective
He may well die very soon as his life’s entire meaning has already died in his eyes.
We’ve had a consortium of presidents led by Obama for 3.5 years.
This wasn't _resident Biden speaking, it was Candidate Biden speaking. This was not an official government action therefore it didn't go out on official government docs. That said, that IS NOT Bidens signature on that letter. It's not even close.
Remember Yahoo does not care for Trump!!!
I think that the debate was the first step in the plan to recapture the White House for 4 more years. The exposure of Biden’s dementia, the planned assassination of Trump before the convention to throw the GOP into chaos. The hook, taking Biden off stage left.
They have been only partially successful. President Trump selecting JD Vance as VP has given the planners an uphill battle and caused the calculus to change. Taking out Trump no longer assures them a win. They may still try assassination and President Trump must be on his guard with top notch security. I think they did not expect to fail and may not have a good backup assassin lined up.
Now they will be dazzling us with their candidate footwork while behind the scenes they mobilize the fraud machine.
The American voter is easily fooled..
> Whoever put out a contract on Trump may be very disappointed and try again, <
I think they have blown that wad and cannot try it again.
My guess is they make a big play to take control of the House and refuse to seat Trump when he wins. You know, democracy and all of that other bullsnot they spout without conviction.
No president. No vice president. Hello speaker Jeffries.
EC
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