As an unprecedented second impeachment of President Donald Trump looms Wednesday in Congress, market participants appear mostly unperturbed but mindful of what is shaping up to be a historic moment in U.S. politics.
However, market participants continue to voice the opinion that Trump’s impeachment—should it come to pass, or even a conviction in the Senate—are not events that are likely to move financial markets much, unless it impacts the ability of Congress to focus on measures to help the economy emerge from the worst pandemic in over a century.
“Can we go half-day on dealing with the impeachment and half-day on getting my people nominated and confirmed in the Senate?” Biden said as he got his second dose of the coronavirus vaccine. Some have said that the distraction of the impeachment and possible Senate trial would come at a time when the focus needs to be on the distribution of COVID vaccines and sustaining the economic recovery from the pandemic.
”The stock market only cares about the direction of the economy, earnings, interest rates and the actions of the Fed,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group, in emailed comments to MarketWatch.
This time is completely different. Far left against Far right. Market will tell you what means crash
Impeachment is about politics....