“It’s A Sad Day For Me“ | Biden’s Former Chief Of Staff Says President Saved USA From Pandemic
Biden’s former Chief of Staff Susan Platt defends Biden’s legacy and argues that he is still capable of leading the country, while Mark Saggers expresses scepticism about Biden’s decision to pass the torch to Harris.
U.S. President Joe Biden’s exit from the presidential race on Sunday could prompt investors to unwind trades betting that a Republican victory would increase U.S. fiscal and inflationary pressures, while some analysts said markets could benefit from an increased chance of divided government under the next administration.
The so-called Trump-trade, which presumes the former president’s tax policies will lift corporate profits, while undermining the country’s long-term budget health, gained ground following Biden’s disastrous TV debate last month.
It was especially visible in U.S. government bonds, with long-dated Treasury yields - which move inversely to prices - briefly rising on increased expectations that Republican presidential nominee Donald Trump would regain the White House after the debate and last weekend’s assassination attempt.
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