Most U.S. equity investors now expect presumptive Democratic nominee Joe Biden to defeat President Donald Trump in the November election, according to a new survey from RBC, an event that will also be bearish for stocks given the former Vice President’s policy stances.
According to the survey of 107 institutional investors, 63% of investors expect Biden and the Democrats to win in November. The data represent a sharp reversal from Wall Street’s sentiment before the COVID-19 pandemic, which showed markets consistently pricing in Trump’s reelection.
Along those lines, investors anticipating the president’s victory fell substantially for the second consecutive survey, RBC noted. Presently, only 37% see a Trump re-election — down more than half from the