Instant view: Analysts on the Biden-Trump US presidential debate

Donald Trump and US President Joe Biden making their way to the first 2024 presidential debate hosted by CNN in Atlanta.

WASHINGTON - US President Joe Biden and his Republican rival Donald Trump traded attacks on abortion and their handling of the economy early in their debate on June 27, giving voters a rare side-by-side look at the two oldest candidates ever to seek the US presidency.was taking place far earlier in the election cycle than any other modern presidential debate, more than four months before the Nov 5 election.

“There is some movement but I’ll just say it’s relatively thin trading conditions and we will find out the real reaction tomorrow. But yeah, the movement so far has been higher yields in response to higher Trump probability.”“It’s like watching Statler and Waldorf argue a bingo ticket. Wall Street indices have crept higher over the past hour, which could be taken as a sign that Trump made the better case - as we all know he is Wall Street friendly.

“But this debate is unlikely to sway hardened Trump or Biden supporters, and few in between for that matter. Trump had the markets in the palm of his hands during his presidency. But that potency seems to have passed for now.”“The market has been pricing in higher odds of a Trump presidency 2.0 after the worse-than-expected delivery by Biden during the debate. Bond yields are rising. Market is anticipating China-bashing is an election item.

“What’s more, risk assets have been surprisingly resilient in the year to date amidst monetary tightening, and geopolitical frictions. As such, we remain ‘neutral’ across most asset classes whilst anticipating a modest rate cutting cycle from the Fed from September onward.”“Biden came across poorly and the US dollar increased... a Trump presidency means tariffs and crudely that means a stronger dollar. It shot up as soon as Biden started talking.

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