SIFMA Congratulates Joe Biden
SIFMA issued the following statement from Kenneth E. Bentsen, Jr., president and CEO of SIFMA, on the outcome of the U.S. Presidential election as announced by major media outlets this weekend:
“SIFMA congratulates Joseph R. Biden, Jr. on his election as the 46th President of the United States of America. We look forward to working with his Administration on issues that enhance our capital markets, help stimulate economic growth and create jobs. SIFMA also congratulates Vice President-Elect Kamala Harris, the first woman, first African-American and first Indian-American elected to the office of Vice President, a historic milestone for our nation.”
Headline inflation in the U.S. hit 4.2% annualized in April, a level not seen since 2008.
US government bond yields will be capped in a Biden divided government or Trump win.
A Trump defeat is unlikely to lead to an unwind of the US equity gains in the past four years.
Majority of institutional investors and advisors do not anticipate a rapid V-shaped recovery.
Global asset allocators are likely to shift money back to the UK.