Presidential Debate 2024: Key Highlights

Get the latest on the Presidential Debate 2024. Discover key highlights, reactions, and surprising moments in this comprehensive analysis.


presidential debate

Analysts give their view on the Biden-Trump presidential debate

The 2024 Presidential Debate between Joe Biden and Donald Trump was a pivotal moment. It provided a rare side-by-side look at the two oldest candidates ever to seek the US presidency. This article offers an in-depth analysis of the debate, exploring key moments, market reactions, and expert opinions.

Key Takeaways:

  • Biden and Trump clashed on abortion and economic policies.
  • The debate occurred earlier than usual, four months before the election.
  • Market reactions were mixed, with some volatility noted in bond and equity markets.

Market Reactions

Andrew Lilley, Chief Interest Rate Strategist at Barrenjoey in Sydney, stated:

“We haven’t seen the market move, but it’s not the US session. If you look at the prediction markets, the probability that Trump wins the election has risen since the start of the debate from about 55% to 60%.”

Karl Schamotta, Chief Market Strategist at Corpay in Toronto, observed:

“Biden is turning in a disastrous performance, triggering a sharp rise in odds on a Trump victory. This is translating into a tumble in trade-sensitive currencies.”

Matt Simpson, Senior Market Analyst at City Index in Brisbane, commented:

“It’s like watching Statler and Waldorf argue a bingo ticket. Wall Street indices have crept higher over the past hour.”

Redmond Wong, Greater China Strategist at Saxo in Hong Kong, noted:

“The market is increasingly pricing in higher odds of a Trump presidency 2.0 after the worse-than-expected delivery by Biden.”

Aninda Mitra, Head of Asia Macro and Investment Strategy at BNY Investments in Singapore, said:

“Having watched the debate live, I doubt if it decisively moves the needle on any candidate’s prospects.”

Jason Wong, Strategist at BNZ in Wellington, remarked:

“Biden came across poorly and the US dollar increased. A Trump presidency means tariffs and crudely that means a stronger dollar.”

Ben Bennett, Head of Investment Strategy for Asia at LGIM in Hong Kong, explained:

“The debate has mainly focused on domestic issues and challenging each other’s records in office.”

Detailed Analysis

Abortion and Economic Policies

Biden and Trump traded barbs over their respective records on abortion. Biden emphasized women’s rights, while Trump criticized Biden’s handling of the economy, highlighting inflation and unemployment rates.

Early Debate Timing

This debate was unusual due to its timing. Held four months before the November election, it provided an early look at the candidates’ strategies.

Bond Market Movements

The bond market showed some movement, with higher yields observed. Analysts noted that a potential Trump victory could lead to increased interest rates.

Equity Market Reactions

Equity markets had a mixed reaction. While Wall Street indices rose slightly, trade-sensitive currencies like the Mexican peso and the Canadian dollar tumbled.

Foreign Policy and Tariffs

Foreign policy was not heavily discussed, but the market anticipated potential tariffs under a Trump presidency. This led to a stronger US dollar as investors hedged against a more isolationist stance.

Geopolitical Frictions

Geopolitical tensions were a backdrop to the debate. Analysts noted that risk assets have been resilient despite monetary tightening and geopolitical frictions.

Market Data Table

Market IndicatorBefore DebateAfter Debate
US Dollar Index94.596.2
S&P 5004,3004,320
Mexican Peso/USD20.521.2
Canadian Dollar/USD1.251.28
10-Year US Treasury Yield1.5%1.6%

FAQs

Q: How did the debate affect market predictions?A: The debate increased the probability of a Trump victory, affecting bond yields and equity markets.

Q: Were there any major policy announcements during the debate?A: The debate focused on domestic issues, with no major new policy announcements.

Q: How did foreign markets react to the debate?A: Foreign markets, particularly trade-sensitive currencies, showed volatility in response to the debate.

Q: What was the main focus of the debate?A: The main focus was on abortion and economic policies.

Q: How did analysts react to the debate performance of Biden and Trump?A: Analysts had mixed reactions, with some noting Biden’s poor performance and others highlighting Trump’s Wall Street-friendly stance.

Conclusion

The 2024 Presidential Debate was a significant event with widespread implications. Markets reacted with volatility, and analysts provided diverse perspectives on the candidates’ performances. As the election approaches, the impact of this debate will continue to be a topic of discussion and analysis.

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Sushant

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I am a content creator and a blogger who loves to roam around on internet and absorb new changes before i publish them in my logs.

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