Wall Street is no longer betting on Trump

[floridafan]

Betting markets have turned decisively toward an expected victory for Joe Biden in November — and asset managers at major investment banks are preparing for not only a Biden win, but potentially a Democratic sweep of the Senate and House too.

Why it matters: Wall Street had its chips on a Trump win until recently — even in the midst of the coronavirus-induced recession and Biden's rise in the polls.

The shift is the latest indicator of how quickly the political and business worlds have aligned in the view that Trump is unlikely to win a second term as COVID-19 infection numbers have spiked again and the economy looks to be stalling.
By the numbers: A Citigroup poll of 140 fund managers released last week found that 62% expect a Biden win, compared to 70% who expected a Trump victory in the same survey in December.

And according to Kace Capital Advisors managing director Kenny Polcari, "Talk of a Democratic sweep [is] now common" among investors.
The impact: Biden's proposed policy reversals from Trump, combined with a historically liberal Democrat-led House and Senate, could impact every corner of financial markets, from tech, chemical and health care companies' stock prices to oil futures, private equity investments and the value of the U.S. dollar.

Continued:
https://www.axios.com/wall-street-betting-biden-trump-3f92627c-812f-42a3-a79c-2192787170f9.html

 

[Jack]

My deep analysis of the Market, a Biden win, and the 'stay-at-home' environment, suggest a modest investment in:

"ETFMG Alternative Harvest ETF (MJ)
NYSEArca - NYSEArca Delayed Price. Currency in USD"
https://finance.yahoo.com/quote/mj/...J0EgEUBA6nwaedgo9BbidiboKN-VBzr3mrHt6Mv44rqtc

Do your Bond holdings come close to this:
"ETFMG, a leading thematic ETF issuer behind the world’s largest cannabis ETF, MJ, the ETFMG Alternative Harvest ETF (NYSE Arca: MJ), has declared a $12,124,000 quarterly dividend, which equates to $0.28 cents per share. Across 2020, investors in MJ received a cumulative $16,404,000 in quarterly dividend payouts. This quarter’s dividend projects an annualized yield of 8.17%,1 or 7.42% after deducting the Fund’s 0.75% expense ratio. The dividend will be paid June 18, 2020 to shareholders of record as of the close of business, June 16, 2020."

Betting markets have turned decisively toward an expected victory for Joe Biden in November — and asset managers at major investment banks are preparing for not only a Biden win, but potentially a Democratic sweep of the Senate and House too.

Why it matters: Wall Street had its chips on a Trump win until recently — even in the midst of the coronavirus-induced recession and Biden's rise in the polls.

The shift is the latest indicator of how quickly the political and business worlds have aligned in the view that Trump is unlikely to win a second term as COVID-19 infection numbers have spiked again and the economy looks to be stalling.
By the numbers: A Citigroup poll of 140 fund managers released last week found that 62% expect a Biden win, compared to 70% who expected a Trump victory in the same survey in December.

And according to Kace Capital Advisors managing director Kenny Polcari, "Talk of a Democratic sweep [is] now common" among investors.
The impact: Biden's proposed policy reversals from Trump, combined with a historically liberal Democrat-led House and Senate, could impact every corner of financial markets, from tech, chemical and health care companies' stock prices to oil futures, private equity investments and the value of the U.S. dollar.

Continued:
https://www.axios.com/wall-street-betting-biden-trump-3f92627c-812f-42a3-a79c-2192787170f9.html