Global markets on alert for Biden's exit as Trump-victory trades mount

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Global markets on alert for Biden's exit as Trump-victory trades mount - Business Standard

Quick Summary:

While many consider approval a long shot, the thinking among some market participants is that a newly re-elected Trump would appoint a Securities and Exchange Commission chair who is more crypto-friendly than Gary Gensler has been under Biden.

The dollar gave one of the earliest signals as to how markets would adjust to a potential Trump victory, gaining in the hours after last week’s debate.

A slew of Wall Street strategists have touted the strategy, including Morgan Stanley and Barclays Plc, urging clients to prepare for sticky inflation and higher long-maturity yields in another Trump term.