Vice-President Harris and former president Trump have opposing views on key economic issues.
Democratic Vice-President Kamala Harris and Republican opponent Donald Trump. The outcome of the US presidential election will impact market sentiment.This is understandable as the results will have policy implications not just for the US, but also the whole world.
In Singapore, the Straits Times Index ended down 1.3 per cent for the week at 3,593.41 as it remained entrenched in its consolidation zone during the week, supporting the 3,580s after opening at a high of 3,640.28 in the week.The iEdge S-Reit Index lost 3 per cent, while the trio of banks declined 0.7 per cent.
The CME Fed Fund Tool has seen expectations trimmed from 77 per cent to 71 per cent for a total of 50 basis points cut across the Nov 7 and Dec 18 Federal Open Market Committee meetings. The longer-dated benchmark 10-year UST yield has risen significantly in the past month or so, from its recent low of 3.62 per cent on Sept 16. It is about 4.2 per cent now, translating into a 60-basis point move in the yield over a short space of time. This is a source of concern for investors.
Some economists say Trump’s policies could make the world poorer, with tariffs potentially shaving 0.7 per cent off global growth, raising inflation and causing more geopolitical tension. Although these numbers are backwards-looking and predate the barrage of stimulus measures that have been announced since then, they do raise hope that things are not spiralling further downwards.
However, for the moment, the market’s rise seems to be underpinned by exuberance of rate cuts and the prospect of a US economic soft landing. “We have seen the 10-year UST yield rise and stay above the 4 per cent handle for six months this year, between February and July, but it came off and fell below 4 per cent after the US Treasury Department reduced its third-quarter estimate for federal borrowing on July 29 to US$740 billion from a previous prediction of US$847 billion.”
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden, Harris travel to areas slammed by 'historic' Hurricane HeleneGREENEVILLE, South Caorlina: US President Joe Biden and Vice President Kamala Harris headed Wednesday to areas devastated by Hurricane Helene after Harris's election rival Donald Trump soug
Read more »
Taiwan vice president, Drag Race winner join big crowds at east Asia's largest Pride marchTAIPEI - More than 180,000 people celebrated LGBTQ+ equality and diversity in Taipei on Saturday (Oct 26) at east Asia's largest Pride march, joined by Taiwan Vice President Hsiao Bi-khim and the reigning queen of RuPaul's Drag Race, Nymphia Wind.
Read more »
President Tharman congratulates Vietnam's new president Luong CuongSINGAPORE: President Tharman Shanmugaratnam on Friday (Oct 25) congratulated Mr Luong Cuong on his appointment as president of Vietnam. The 67-year-old military g
Read more »
Rising cost of living tops voters’ concerns as US presidential election approachesBoth Vice President Kamala Harris’s and former president Donald Trump’s campaigns have unveiled plans to relieve the financial burden on households.
Read more »
Harris reiterates support for Gaza ceasefire as conflict escalatesWASHINGTON: Vice President and Democratic presidential candidate Kamala Harris said Washington will continue to pressure Israel and other players in the Middle East to reach a ceasefire deal in Gaz
Read more »
Kamala Harris, on popular podcast, rejects Republican's 'childless' digUS Vice President Kamala Harris on Sunday (Oct 6) rejected Republican Governor Sarah Huckabee Sanders's suggestion the Democratic presidential candidate is not humble because she does not have biological children.
Read more »