Michael Cembalest, chairman of market and investment strategy, JP Morgan Asset & Wealth Management
Opinion polls in swing states suggest that Joe Biden’s chances of winning the US presidential election in November are rising, says Michael Cembalest, the top investment strategist at JP Morgan’s $2trn investment-managment arm. And the chances of the Democrats conducting a clean sweep of the presidency, the House of Representatives and the Senate are now around 45%, according to political-betting markets. So investors need to consider the implications for US stocks if Biden (pictured below) and his party end up with full control for the next few years.
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