While we cannot say for sure that the death of the soft-landing and the market sell-off was caused by Kamala Harris, surely anyone investigating the matter should considerFormer President Donald Trump’s polling lead over President Joe Biden began to seriously widen in mid-June, around two weeks before the historic debate between the candidates. At the end of the first week in June, Trump’s Real Clear Politics polling average of 45.1 percent was just a hair above Biden’s 44.8 percent.
It’s hardly a mystery why Trump’s ascendancy in the polls would boost the stock market. Public opinions polls showed thatthan his Democrat rival. The University of Michigan’s consumer sentiment survey showed that 40 percent of the public thought Trump would be better for the economy and 35 percent thought Biden would be.
The University of Michigan’s consumer sentiment index declined sharply in July. But this was entirely due to a growing discontent with the present economic situation. The reading of sentiment about current conditions fell for Democrats, independents, and Republicans. The expectations index, however, rose in July,While all explanations of broad movements in financial markets require some speculation, this amounts to strong circumstantial evidence that.
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