A snippet while we await some results out of the US election.
This via an analyst at Citi speaking in a CNBC interview on Tuesday before polls closed.
In brief:
- starting point is fairly extended valuation … predicated on very strong earnings growth follow-through into 2025
- concern is that with that set up, you go into a Trump win and you introduce tariffs into the discussion … [and] 2025 growth expectations become a bit more suspect as we navigate tariff action
- if Harris is victorious investors should consider buying an anticipated market dip
-
“It really comes down to Trump and tariffs, and Harris and taxes”
Meanwhile, the US dollar has had a small lift:
For the yen, bear in mind that (BOJ + Fed) > (Harris + Trump) … by a LONG way!
This article was written by Eamonn Sheridan at www.forexlive.com.
