Global stocks sweat on US election race, safe-haven bonds gain | Malay Mail

Share markets were whipsawed, while bonds and the dollar gained today as results from the US presidential election proved far closer than polls had predicted, potentially leaving the outcome in doubt for days or weeks. — AFP file pic

Investors initially wagered that a possible Democratic sweep by Biden could ease political risk and provide a huge boost to fiscal stimulus. “It means possibly quite a lot of volatility,” said AXA Group’s Chief Economist Gilles Moec in London. Andrew Brenner, head of international fixed income at NatAlliance Securities, said the move in techs appeared to be a play on the Senate potentially staying Republican.

Chinese blue chips rose 0.7 per cent, with markets uncertain how Sino-US relations would develop from here. The chance of a Trump victory saw the dollar jump 2 per cent against the Mexican peso on the assumption US trade policies would continue to favour tariffs. Norway’s crown, Australia’s risk-sensitive dollar and Britain’s pound all tumbled too.

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Global stocks, dollar gain as unclear US election thwarts Democratic sweep | Malay MailNEW YORK, Nov 5 — The dollar rose and world equity markets rallied yesterday as investors bet that a progressive “Blue Wave” Democratic agenda of heavy fiscal spending and more regulation was unlikely as the outcome of the US presidential election remained unclear. The dollar jumped more than...
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