Last week, investors trimmed their holdings of US bonds and bought bitcoin in anticipation of former President Donald Trump winning the 2024 presidential election. Roundhill Investments CEO Dave Mazza joins Morning Brief to discuss"As Trump was really beginning to lead in the betting markets and the prediction markets against Joe Biden post the debate, investors started positioning for that Trump Trade 2.
Investors started positioning for that Trump trade 2.0 which has a lot of similarities to the original Trump trade, but it is a bit different.I think investors were anticipating um rate cuts on the short end of the, of the of the bond yield of bond yields and then actually an increase in rates on the long end making the yield curve, uh uh actually positive for the first time in many years.
Um Because until we really see that, um to understand one, is it really true that vice President Harris is get the nomination seems that way, at least from, from what's being indicated. Um Ultimately though, I think, um uh the, the biggest headlines gonna for the near term is going to be uh what happens uh with the uh with, with the presidential election and then investors who try to absorb the corporate earnings and then start looking at the fed again.Um But from a quarterly basis, I think where earnings come in, um ultimately will be that longer term driver, even if there's a lot of macro headlines in the near term.
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