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 2025concern 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 actionif 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.
