13
Oct
US presidential elections: a game changer for the markets?
Overly optimistic expectations for US GDP. Growth likely to slow in Q4. Rising budget deficit. Massive and unconditional support from the Fed. High risks for equities.
Key points
- Second wave of Covid-19 could slow US economic recovery
- Over-optimistic expectations for US GDP?
- US elections will reinforce the new fiscal paradigm
- Rising taxes threaten financial markets
- Massive, sustained and unconditional support from the Fed
- Full monetisation of US Treasury issuance?
- US presidential election: a game changer for financial markets?
