Piper Sandler analysts highlighted what they see as the extraordinary risks posed by the potential re-election of either President Joe Biden or former President Donald Trump.
The firm highlights that betting markets have reflected a drop in Biden's odds of being the Democratic nominee from 86% to 61% following a poor debate performance. The Democratic panic is partly fueled by fears that if voters perceive Biden as unfit to serve, it could lead to a significant down-ballot catastrophe.
Piper Sandler notes,"Trump makes these sweeping statements that are either misleading or outright false because of an unusual combination of being minimally acquainted with the facts and having an utter disregard for the truth."
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