Today’s US Presidential Election is considered to be the most consequential one since World War II with evidently far-reaching reverberations around the US and the world. What is at stake is whether the next occupant of the White House will be a predictable Democrat or a disruptive and divisive Republican. The outcome will likely be decided by a handful of votes in a handful of states.
Is there any wonder that investor fatigue started to set in on many asset classes last week? Not only having to consume, analyse and react to the reams of data witnessed over a busy 5-calendar day period, there is of course always the consideration of what the great and mighty of governments, their formal political oppositions or in some cases battlefield foes, decide to pour forth in word form for the world’s ready media to gobble up and banner.
The wider suite is experiencing another swathe of risk-off going into the US election. This, of course, is expected but corporate results, national data and warnings from monetary watchdogs accelerate reasons to be cautious. The investor populace has been indulged this year to an easy boom in tech related spoils. So much so, that even with Microsoft and Meta reporting better than expected earnings, anything short of stellar is greeted with dismay.
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