Investors taking note of narrower Biden lead over Trump in some battlegrounds
Uncertainty about the outcome of the U.S. 2020 presidential election is starting to ratchet back up from relatively calm levels earlier this month.
A general election nationwide poll by RCP shows a wider 8.6 percentage-point lead for Biden, but the tightening of the race in battleground states may be reviving some anxieties for investors, experts said. Some analysts say a sweeping victory for Biden, which could usher in a so-called blue wave of Democratic wins in the White House and Congress, could lay the groundwork for a more expansive coronavirus fiscal relief package that could in turn deliver a fresh jolt to the economy and the markets.
“Our base case is that the polls are wrong, there’s an oversampling biased error that a lot of polls aren’t correcting for,” Orlando said. For now, the market seems fixated on the prospects for fresh fiscal aid from Congress and the path of COVID-19 and remedies to fight the pandemic, but election jitters could come back into fuller view.
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