BANK OF AMERICA: The 2020 election's outcome is now the most-cited risk to markets among fund managers, replacing the US-China trade war

markets.businessinsider.com | 1/22/2020 | Staff
j.moominj.moomin (Posted by) Level 3
The 2020 US presidential election's outcome is now the most-cited risk to markets among fund managers surveyed by Bank of America.

The November event took the top spot after 29% of respondents cited it as their "biggest tail risk," while the US-China trade war fell to second place for the first time since May.

Fund - Manager - Survey - Report - Week

The latest fund manager survey report arrives less than one week after the US and China inked the phase-one trade deal, the first major deescalation of the conflict between the two economic superpowers.

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US - Election - Outcome - Risk - Markets

The 2020 US presidential election's outcome is now the most-cited risk to markets among fund managers surveyed by Bank of America.

The election's outcome is the "biggest tail risk" to 29% of fund managers surveyed, the bank said in a note released Tuesday. The trade war was the second most-cited risk, falling from its position as the biggest risk for the first time since May.

Risk - Popping - US - Bond - Bubble

The third most-cited risk was the popping of the US bond bubble, according to the team led by chief investment strategist Michael Hartnett.

The latest fund manager survey arrives less than one week after the US and China inked the first deal to deescalate the trade conflict. The phase-one deal lowered tariff rates on one tranche of Chinese imports but kept them the same on roughly $360 billion worth of goods. It also called on China to open its financial sector to US firms, purchase more US goods, and submit a plan to comply with stricter intellectual property laws.

Superpowers - Deal - Treasury - Secretary - Steven

Both economic superpowers are now focused on finalizing a phase-two deal, though Treasury Secretary Steven Mnuchin told The Wall Street Journal on...
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