UBS Group: Harris' victory will be bullish for utility bonds, while Trump will boost energy.
The UBS Group credit strategy director said that if Harris wins the election, it will boost bonds in industries such as utilities. Trump, on the other hand, will boost industries such as energy.
How will the results of the US election affect the market? UBS Group has made an early speculation: winners and losers are...
UBS Group's credit strategy director Matthew Mish says that if Democratic candidate Harris wins the election, it will boost bonds for American basic industrial, capital goods companies, and utility companies; whereas if Republican candidate Trump wins, it will be beneficial for bonds of US energy, aviation, housing, and auto loan companies.
US stocks close | Nasdaq rose 2.5%, Dow Jones, S&P hit record highs; chip stocks, Chinese concept stocks shine, Tesla rose more than 7%, Nvidia rose nearly 4%
The US unemployment benefits data strengthens expectations of an economic soft landing, with the Dow Jones breaking the 0.042 million point mark for the first time and the S&P closing above 5700 points for the first time. The Nasdaq rose 3% at one point, the chip index rose 5.7% at one point, the bank index rose nearly 3%, and the Chinese concept index rose over 4%.
SPY Eyes Biggest Jump After a Scheduled Fed Meeting Since the 2008 Financial Crisis
Is the Federal Reserve starting an interest rate cut cycle on the cusp of a wave, possibly revealing the outcome of the election in advance?
Taking history as a lesson, in an election year with declining interest rates, the probability of the incumbent president or challenger winning is greater.
Shares of Semiconductor and Chip Stocks Are Trading Higher Following Wednesday's Rate Cut, Which Has Lifted Growth Stocks and Rate-sensitive Sectors Such as Tech.