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Investors had expected stimulus under a blue wave Democratic sweep to lead to economic growth, inflation, and higher interest rates. Whether Biden's New Deal was green (helping renewable energy) or concrete-gray (helping infrastructure stocks and materials), investors were positioned for more g...

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Bibliographic Details
Published in:Barron's 2020-11, Vol.100 (45), p.14-16
Main Author: Salzman, Avi
Format: Article
Language:English
Subjects:
Biden, Joseph R Jr
Coronaviruses
COVID-19
Economic growth
Election law
Interest rates
Investments
Political parties
Stock exchanges
Tax increases
Technology stocks
Voters
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Summary:Investors had expected stimulus under a blue wave Democratic sweep to lead to economic growth, inflation, and higher interest rates. Whether Biden's New Deal was green (helping renewable energy) or concrete-gray (helping infrastructure stocks and materials), investors were positioned for more government spending and higher interest rates. [...]the election may force a broader realignment within the Republican Party that could lead to another unexpected outcome-targeted tax hikes. Trump's populist message and expansion of his base to include more Latino voters could lead to Republicans appealing to a broader array of voters, Jon Lieber, managing director of Eurasia Group and a former McConnell staff member, told Barron's. [...]if they do, does that mean you see them embrace, in certain cases, high-income tax increases" as well as the more restrictive immigration and trade policies that Trump embraced? "That would be a really interesting realignment if it happens, and it means there's potentially more overlap for policy agreement with Democrats."
ISSN:1077-8039