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Joe ?Biden’s exit casts doubts over ‘Trump trade’ as US poll is reset

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5 months ago

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Joe ?Biden’s exit casts doubts over ‘Trump trade’ as US poll is reset

​President’s decision not to stand is likely to trigger volatility in markets that ‘won’t like this new uncertainty’

Young men carry American flags during the Republican National Convention in Milwaukee. Photo: Getty

Liz Capo McCormick and Natalia Kniazhevich

Investors have been amassing wagers on Donald Trump’s return to the White House for weeks, trimming holdings of long-term US bonds and buying bitcoin. Now they’re considering whether Joe Biden’s exit from the race boosts the odds of a Democrat victory – and how much they must recalibrate their bets.

Though the announcement was widely expected as the 81-year-old faced pressure from allies, it will likely translate into volatility for markets.

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