JPMorgan's quant guru details 2 ways Trump's COVID-19 diagnosis can lift markets | Markets Insider

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JPMorgan's quant guru details 2 ways Trump's COVID-19 diagnosis can lift markets

The bank held its year-end S&P 500 target of 3,600 in a Friday note, adding the diagnosis only slightly increases Democratic presidential nominee Joe Biden's chances of taking the White House in November. Biden already boasts a healthy lead in most polls, and an additional boost might aid markets by reducing election-related uncertainty, the team led by Marko Kolanovic, head of quantitative and derivatives strategy at JPMorgan, said in a note.

Such a scenario isn't without precedent. UK Prime Minister Boris Johnson enjoyed an outpouring of public sympathy after contracting the virus in March. After a debate performance largely viewed as chaotic and detrimental to his election hopes, Trump could regain some favor among compassionate voters.

Source: News Formal (newsformal.com)

 

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