that Joe Biden's pick of Kamala Harris was a predictable move and markets seem comfortable with Harris on the ballot.
"I'm not sure. I mean, Biden definitely has some tinges of populism and anti-finance but I think again they tend to be a very pragmatic ticket, and that would be a major structural change to markets which I can't imagine they're going to make," Schrager said. Schrager also said that market noise in the fall won't be from the election, but instead from developments with the coronavirus, vaccines, and news on how infection rates fare in the South and Midwest. This is the opposite of what Goldman Sachs chief economist David Kostin. He said, "everyone mostly on the buy-side, hedge funds, mutual funds, portfolio managers" already expects a vaccine in the fall, and uncertainty rests on the election results and changes in the tax rate.
It means nothing. Status quo will be maintained and no harsh regulations will be passed.
The markets will appreciate that there will be no outlandish and outrageous statements coming from the Biden Administration on a daily basis. We had enough of this crap for 4 years.
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