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Wednesday, 28 September 2016

How Wall Street scored the first round of Clinton vs. Trump

Bloomberg reviews how Wall Street scored the first round of Clinton vs. Trump: As Global head of G10 rates strategy at Citigroup Harvinder Sian notes in a piece by Bloomberg, while the first presidential debate of 2016 “broke little new ground and is unlikely to be seen as a turning point in the election no matter the final outcome,” he says that the “MXN FX gaining the initial market reaction has been to favor Clinton over Trump.” This view was echoed by a poll conducted by CNN after the debate, as well as a number of market strategists quoted by Bloomberg. “We believe it’s uncontroversial to observe that the debate went in Clinton’s favor last night; that was the broad consensus from pundits, focus groups, the betting markets, and financial markets,” says George Pearkes, macro strategist for Bespoke Investment Group. In our short, rushed take sent out yesterday morning about a half an hour after the debate concluded, we had said that while in our view Sec. Clinton won the debate, if the facts and the candidates’ grasp of the facts had a significant sway over the masses, Trump would have never gotten this far in the first place.

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