@peter_IFAMAG reads Twitter so you don’t have to.
The US elections results have yet to reveal a clear winner, following a nascent ‘Blue Wave.’ International market volatility increases as the Yuan takes a dive, and Nasdaq futures soar. Economist and pundits look to the long term implications of such a divided nation at the helm of the worlds largest economy. In the UK Prime Minister Boris Johnson speaks at the CBI conference reassuring business sector.
Firstly, Bloomberg weighed in on market prediction yesterday.
A rising market has preceded a victory for the sitting party 86% of the time since 1928 https://t.co/bpjakMQdjW pic.twitter.com/YuMuKyf20s
— Bloomberg Markets (@markets) November 3, 2020
US economist, Paul Ashworth, comments on the nascent ‘Blue Wave.’
Capital Economics's chief US economist Paul Ashworth notes that "the widely-anticipated 'Blue Wave' appears to have floundered", with significant implications for the prospect of more fiscal stimulus. pic.twitter.com/j2dWMQUdCE
— Robin Wigglesworth (@RobinWigg) November 4, 2020
Adam Tooze shares article looking to the long term implications of such a divided country.
3 reasons why 2020 election is bad news for US Econ according to @elerianm
Political divisions
1. paralyze essential socio-econ reforms
2. Make coherent corona response less likely
3. Force reliance on Fed -> future instability
& not just US at stake!https://t.co/RIPRu9A056 pic.twitter.com/fnllguZ9S6— Adam Tooze (@adam_tooze) November 4, 2020
Meanwhile the markets react to the close race.
Nasdaq 100 futures up over 400 points. pic.twitter.com/nx1MRTAlPN
— David Ingles (@DavidInglesTV) November 4, 2020
Chinese Yuan took a dive last night, as the dollar rebounded.
https://twitter.com/Birdyword/status/1323818411416145928
In the UK PM Boris Johnson reassures business at the CBI conference.
PM in message to CBI – "believe me we WILL end these measures on December 2nd".
— Simon Jack (@BBCSimonJack) November 4, 2020
Elsewhere speculation rolls in following the surprise pulling of Ant Groups IPO, what would have been the largest in history.
China’s move to halt world’s No.1 IPO sends global investors a message: Any financial opening will only be done on terms that benefit President Xi Jinping & the Communist Party https://t.co/sDLEuvn30b @dantenkate @endacurran @Colum_M @KariSoo1 @LucilleLiu @SofiaHC1 @ScanlanDavid
— Lulu Yilun Chen (@luluyilun) November 4, 2020
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