Analysis-Investors chart possible moves as pressure mounts on Biden
NEW YORK - With doubts growing about whether President Joe Biden will remain a candidate for re-election in 2024, some investors are preparing to game out potential economic scenarios and trades if a stronger Democratic candidate emerges.
"For the stock market or bond market, if there's candidate change it's going to add uncertainty to the market," said Michael Schulman, partner and chief investment officer at Running Point Capital Advisors."Investors have to prepare a strategy for what to do if Biden is no longer the candidate." "I wouldn't see an appreciable policy differential," said Alex McGrath, Chief Investment Officer for NorthEnd Private Wealth.
"It's a little too early to be making structural changes around the election, but we're in that window where it certainly gets more important in the investment decision-making and asset allocation decision," said McIntyre.The S&P 500 had gained over 1% since the June 27 debate between Trump and Biden.
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