We would reiterate that the backdrop remains an unfavourable one for Biden. Inflation is still a major issue for many voters, who are generally more focused on the fact that the price levels remain extremely high compared to what they had been used to pre-Covid, even if the rate of increase has slowed.
When this is combined with discontent over a number of other issues, such as immigration and the lack of border security, for example, it has kept Biden’s approval rating very low.
…Despite this backdrop, betting markets actually see Biden as a slight favourite in the Presidential race, even if they signal a close call overall
Comment:
Why does this exist? We would contend this is because the betting crowd is factoring in the chronic distractions as possibly getting Trump off his game somewhat. An election is a marathon, and they keep sidetracking him. News fatigue on this can set in
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