Reported 12 months ago
After the first presidential debate in the US on June 29, 2024, market bets on Trump's chances of winning increased, leading to a surge in 'Trump concept stocks' such as finance, healthcare, and steel on the 28th. These sectors became big winners in the financial markets. In contrast, US bonds were losers as worries of a Trump win potentially reigniting inflation and delaying rate cuts caused bond yields to rebound. Market variables in the coming week will revolve around economic factors, with the US releasing job reports affecting the Fed's rate-cutting path. Despite signs of easing inflation, political uncertainty stemming from Biden's poor debate performance led to a drop in the major US indices on the 28th, as markets began to digest the possibility of a Trump victory in November.
Source: YAHOO