The U.S. presidential election is about to be held on the 3rd local time. The market is concerned about one of the biggest stock market variables in the second half of 2020. Wall Street investment institutions are also constantly simulating the changes after Biden and Trump were elected president of the United States. There are many funds. The manager warned that if Biden is elected, but the Democratic Party to which he belongs does not win a majority in the Senate, it will cause Biden to be restrained by the US Congress when he implements a policy that is not popular on Wall Street.
According to foreign financial media reports, although the Democratic Party and Biden worry about the direction of corporate tax hikes to revitalize the economy, Wall Street is worried, but what scares these funds most is that Biden won, but the Democratic Party is not in the United States. Congress takes control. The market is currently waiting for the end of the general election and will be able to return to discussing a new round of economic stimulus bills. This is mainly due to the opposition of the Republican Party in the US Senate.
Prudential Asset Management Division QMA fund manager Ed Campbell believes that the White House and the Democratic House of Representatives want to reach a new bailout as soon as possible, but the majority leader of the Senate is opposed by Mitch McConnell. Therefore, if Biden is elected, he does not have the United States. The control of Congress would be the last thing the market would like to see.
The current US presidential election is in a stalemate, but most Wall Street fund managers are mentally prepared for Biden’s election. If Biden comes to power, although there will be policies that are unfavorable to the market in the short term, the Biden administration’s foreign policy is less impatient. Coupled with the opportunity for the vaccine to be released at the end of the year, in the long run, the US Congress will not allow Biden’s extreme policy to pass smoothly.
(Zhongshi News Network)