...Trump brags that the rising US stock market is not a reflection of Biden's success but factoring in his imminent progression into the US presidency.
...I think he could be right on this count, markets typically imputes ahead
...but Trump's path to presidency is nowhere near certain yet, but markets always like to be ahead of themselves.
...it does not surprise me that the Dems will replace Biden with a younger candidate in the months ahead, and could throw the race wide open
...if Biden is so incompetent that he can't land Trump behind bars, then he gets what he gets.
....but US market participants can be myopic in that Trump 2.0 will be volatile and unpredictable and markets may not get what they hope for.
....menawhile Nomura is flagging that a Trump 2.0 will be negative for Asia ex-Japan stocks, which will necessarily include Australia especially our resource stocks.
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Markets globally are increasingly pricing in the prospects of former US President Donald Trump getting re-elected. Betting markets in the US are currently suggesting that Trump is more likely to win the US presidency, with markets ascribing a 47 per cent chance of a Trump presidential win versus 41 per cent for Joe Biden.
A report by broking firm Nomura believes that the US election verdict could have a huge bearing on the performance of the Asia market. It believes the elections remain a key risk for the Asia Ex-Japan (AxJ) universe, with North Asia stocks more vulnerable
