How Biden suddenly became bullish for stocks

Tuesday, 6 October 2020

An important piece by ZeroHedge:

The reason for the shift was simple: with poll after (Democrat oversampling) poll revealing a growing Biden lead, Wall Street analysts were given a simple task: prevent a disorderly selloff ahead of or during the elections.

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… there is one scenario where Goldman’s projections could make some sense: that would be if the Biden tax hikes were accompanied by a new fiscal stimulus wave, one not prompted by another global cataclysm such as a covid pandemic.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.