Founders AM: Biden's Chances Improve
Institutional Insights
Housekeeping: Good Morning.
Contents:
News Headlines
Trading Desk comments
UBS Morning Podcast…
Also: BBG Gold/SPX and MSA Bank TA
Comment: The banks after one day are mentioning Gold being sold now. Small comment but it’s a title after $400 rally?
Point: Heads up. they may not be short, but theyare not long anymore
Comment: Many are looking at Geopolitical risk differently now. They are looking at the recent events as a baseline for future problems.
Point: This is about oil. Oil gets disrupted from this delicate sitaution, weget much bigger stagflationary problems
Comment: Biden has closed the gap on Trump and may beleading in some areas now. Do not underestimate the power of markets staying buoyant and headlines staying positive in this race. One key factor is consumer confidence. When consumer confidence rises, job approval ratings rise. Consumer confidence is rising now.
Point: If Biden job approval ratings rise, he will win despite everything else if history is applicable still
It actually seems like if gold keeps selling off, Biden wins.