The people in the Market aren’t divorced from the political world….
As the polls keep showing…
As the virus keeps going….
As they keep making their money….
But see the continued jobless numbers….
And a President aimless and floundering….
The money people are beginning to follow their fellow American’s in yearning for something stable….
And some ole’ fashion Democratic spending to help deal with the virus and actually do what Trump hasn’t….
Put people BACK to work….
Joe Biden seems even to them to be cure for a sick America….
(Elizabeth Warren isn’t gonna be the Treasury Sec., she’s needed in the US Senate…)
President Donald Trump loves to say that if Joe Biden wins the White House, stocks will crash, retirement accounts will vanish and an economic depression “the likes of which you’ve never seen” will engulf the nation.
But much of Wall Street is already betting on a Biden win — with a much different take on what the results will mean.
Traders in recent weeks have been piling into bets that a “blue wave” election, in which Democrats also seize the Senate, will produce an economy-juicing blast of fresh fiscal stimulus of $3 trillion or more that carries the U.S. past the coronavirus crisis and into a more normal environment for markets.
Far from panicking at the prospect of a Biden win, Wall Street CEOs, traders and investment managers now mostly say they would be fine with a change in the White House that reduces the Trump noise, lowers the threat of further trade wars and ensures a continuation of the government spending they’ve seen in recent years.
“The market is focusing on an end to the uncertainty around the Trump administration, and that in many respects is what underscores the pricing action around a possible Biden scenario and a blue wave,” said Joseph Brusuelas, chief economist at consulting firm RSM US. “Firms and investors crave stable expectations and that is how the Street is interpreting a likely Biden victory.”….