Monday, November 04, 2024

Dollar Weakens as Investors Rein in Bets on Trump Victory

Markets move after poll shows unexpected groundswell of support for Kamala Harris ahead of Tuesday's election

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The dollar weakened and Treasuries advanced on Monday as global markets sharply reined in their bets on a victory for Republican candidate Donald Trump in the US presidential race.

Comments

"Yields on US government debt, which move inversely to prices, were lower and the Mexico peso strengthened after a closely watched poll over the weekend showed an unexpected groundswell of support for Democratic nominee Kamala Harris in Iowa, a state previously dominated by Trump.

The poll, run by non-partisan pollster J Ann Selzer and released late on Saturday, is considered the "gold standard" of opinion surveys in the state."

Yeah, baby!

#1 | Posted by Corky at 2024-11-04 03:18 PM

Similar article, but no paywall...

Trump Trade' Doubts Drag on Dollar, Boosting US Treasuries
www.bnnbloomberg.ca

... Treasury yields fell sharply and the dollar weakened as investors pared bets on Republican Donald Trump prevailing in Tuesday's US presidential election. ...

#2 | Posted by LampLighter at 2024-11-04 03:45 PM

You must have been a bad boy!

I don't get a paywall there, and I'm not subscribed.

#3 | Posted by Corky at 2024-11-04 03:48 PM

From the thread link....

"Investors believe that if Trump wins and implements trade tariffs and tax cuts - and especially if the Republicans also emerge with control of both houses of Congress - then inflationary pressures will rise, making it less likely that the US Federal Reserve will rapidly cut interest rates.

The Fed is expected to lower rates by a quarter of a percentage point on Thursday, two days after the election."

Ah, so that's why.

#4 | Posted by Corky at 2024-11-04 03:51 PM

@#3 ... You must have been a bad boy! ...

:)

ft.com may have been counting the number of times my IP address has visited the site recently.


#5 | Posted by LampLighter at 2024-11-04 04:01 PM

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