A win for Donald Trump in the U.S. presidential election in November would herald a spike in long-term U.S. Treasury yields, said Edmond de Rothschild Asset Management’s Chief Investment Officer Benjamin Melman on Thursday.
Trump has established a sizable lead over President Joe Biden in the White House race since the two candidates debated on June 27. Trump has pledged to impose tariffs on foreign imports, and up to at least 60% on Chinese goods coming into the U.S., which if passed on to U.S. consumers in the form of price hikes would fuel inflation.
“When the odds of Trump being elected got higher suddenly, the risk pricing from the markets was immediate,“ Jacques Aurelien Marcireau, co-head of equities at of Edmond de Rothschild, told the press conference.
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