All of us have a different take on the upcoming election. This more than any in recent memory is as contentious as ever, and just continues to be a circus. Some of us might be Republicans, some of us might be Democrats, some of us might just want this to go away and pray that the world will still be here in 2017. Now since we all do have different takes and opinions on this subject we want to approach the election without bias, no matter what side of the line we fall on.
No matter our thoughts on the first debate that took place Monday the markets have their own take. Prior to the debate the peso hit all-time lows against the dollar as Trump gained momentum. But according to Jack Ablin, CIO at BMO Private Bank "Early indications suggest Hillary won the debate; at least didn't lose. Futures are higher and the peso is rallying.”
Whether this means anything remains to be seen. The immediate market reaction could quickly reverse as there are still two more debates to come before the election. The one thing to keep in mind is that while the markets seem to think Hillary won, that doesn’t mean the average voter feels the same way. One thing we can look forward to (or not) is this next month is going to be an unprecedented one, for better or worse.
All the best,
Wesley R. Nicholson, Mike Allen and Aaron Everdyke