Presidential election dominates price action
WEEKLY MARKET COMMENTARY |
Investors have priced in a modest Clinton victory into equity, bond and currency values ahead of the Tuesday, Nov. 8 plebiscite. At this juncture, forward-looking investors are likely concerned about tail risks in the election having to do with a possible Trump victory, or a larger than anticipated margin of victory for Clinton that would entail the Democrats taking control of the Congress.
The Federal Reserve (Fed) will send five speakers to market this week, the most notable of which should be San Francisco Fed President John Williams speech on the economic outlook on Wednesday night. Economic releases will be on the light side this week with fresh data on consumer confidence, credit demand, small business sentiment and wholesale trade and inventories.