The election outcome has particularly strong resonance for China, which has endured higher trade tariffs and a hostile backdrop for its tech firms under U.S. President Donald Trump.
A win for Democrat challenger Joe Biden, who is currently ahead in opinion polls, would mean more predictable trade policies.traded as high as 10.950, the highest since Jan. 7, 2016. It was last at 10.35.LIQUIDITY SQUEEZE? While a Biden win is widely viewed as dollar-negative, dollar swap markets, where traders outside the United States source the currency, suggest some investors are starting to hedge their bets.were last up at 18.5 basis points, close to a one-month high, reflecting investors' willingness to pay a greater premium for dollars.
With central banks now providing ample liquidity support, reflected in money market funds and corporate balance sheets flush with cash, this week’s market jitters are not indicative of an impending dollar shortage. But with economies under fresh pressure and European COVID deaths up 40% in the past week, investors are taking no chances and the VIX equity volatility gauge“Investors are finding a reason to sell,” said Chris Bailey, a strategist at Raymond James, noting the risk to growth and economic recovery from tricky U.S. stimulus negotiations, a surprise or disputed election outcome and renewed lockdown calls.
Source: Financial Digest (financialdigest.net)
The market is teetering. No way without major stimulus will all the individual job loss and small business closures let it escape what is coming.
Reuters fails to remind readers that markets fluctuate. Instead, it tries to scare you.
Covid meds aren't selling because no one needs them
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