Most investors now expect Biden to beat Trump, but view it as bearish for stocks
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.
Democratic presidential candidate Joe Biden speaks about reopening the country during a speech in Darby, Pennsylvania, on June 17, 2020. (Photo by JIM WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images)
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