October 27, 2020

POLITICO: As Trump warns of economic disaster, Wall Street grows giddy about Biden

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https://www.politico.com/news/2020/10/27/wall-street-biden-blue-wave-432710

As Trump warns of economic disaster, Wall Street grows giddy about Biden

2020-10-27 00:00:00, , POLITICO

Content Categorization
/News/Politics
/News/Business News
/Business & Industrial

Word Count:
1531

Words/Sentence:
24

Reading Time:
10.21 min

Reading Quality:
Adept

Readability:
13th to 15th

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That would bring the promise of continued low tax rates on corporate profits, low regulation and a president eager to secure more stimulus by casting aside worries about debt.

"The market is focusing on an end to the uncertainty around the Trump administration, and that in many respects is what underscores the pricing action around a possible Biden scenario and a blue wave," said Joseph Brusuelas, chief economist at consulting firm RSM US.

While investors increasingly like the idea of a Democratic sweep, markets probably wouldn't plunge if Trump defies national polls and pundits once again to pull off a reelection win.

But interviews with traders and executives, as well as numerous analyst research notes, suggest Wall Street has learned to stop worrying and almost – kind of – love the idea of Democratic control in Washington.

At the same time, Biden could still install regulators in top jobs unfriendly to big business, rolling back some of Trump's efforts to ease restrictions on multiple industries including oil and gas and financial services.

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