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Citi sees market moves as election stirs volatility

Citi sees market moves as election stirs volatility

GrafaGrafa2024/11/06 11:00
By:Isaac Francis

Citi’s U.S. equity strategist Scott Chronert recently discussed potential trading strategies in response to market volatility driven by the upcoming U.S. elections.

Speaking on CNBC’s Squawk Box, Chronert emphasised that while the S&P 500 is fairly valued, the election’s outcome could shape market conditions by influencing key areas like tariffs, taxes, and the dollar.

Chronert pointed out that a Trump win could lead to tariff changes that might affect economic growth projections, whereas a Harris victory might bring tax policy shifts.

"We try to stay away from political issues and remain focused on fundamentals. Trump and tariffs, along with Harris and taxes, are key factors in this context,” he explained.

Chronert’s cautious stance reflects a focus on how different policy directions could influence economic growth and market stability.

JPMorgan strategists echoed similar sentiments, particularly noting the implications of a Harris administration on the dollar’s strength.

According to JPMorgan, efforts to boost government spending and tariffs under Trump could drive up U.S. interest rates, potentially strengthening the dollar, despite broader Republican intentions to weaken it.

As election-related uncertainties intensify, both Citi and JPMorgan stress the need for strategic agility.

Chronert highlighted how shifting policies could create opportunities for tactical trading adjustments.

"Election results could be pivotal for market dynamics," noted JPMorgan, emphasizing the global influence of U.S. fiscal policies.

This pre-election period has financial institutions advising investors to remain flexible, with the potential for both tariffs and tax policies to significantly impact global money markets.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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