Anil Singhvi decodes impact of Trump-Biden debate, reveals impact on stock market
One of the most anticipated debates between US President Donald Trump and Joe Biden has taken place. The incumbent President Trump was at his fiery best as always, Zee Business Managing Editor Anil Singhvi said while analyzing the debate between him and the Democratic contender Joe Biden
One of the most anticipated debates between US President Donald Trump and Joe Biden has taken place. The incumbent President Trump was at his fiery best as always, Zee Business Managing Editor Anil Singhvi said while analyzing the debate between him and the Democratic contender Joe Biden. Calling the debate a high voltage drama, Singhvi said that Trump is known for his aggressive stance and he came to power in the US riding on this.
While it is too early to comment on the direction of the election from here, one thing that is going against Biden is his assertion on hiking taxes. This is not being liked by markets, he added.
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What he has learned from the 2008 crisis is to print dollars and infuse liquidity in the system as it is still unknown when the vaccine would come.
Raising tax may not find favour either with corporates or the common man. If the corporate tax is raised it will ultimately reflect on consumers. This will also slow down consumption.
Singhvi said that in his opinion, Trump was liked by the Markets as there has never been a president as market-friendly as him. He always has an eye on the US markets, the Managing Editor said. He is also quite corporate friendly, he further said.
The people are also liking frequent interjections from Trump while Biden was speaking.
The President has the understanding on what people would want in a debate more than his rival candidate. This is the reason why Global Markets are strengthening. The Trump admirers are usually silent voters who deliver when it matters, Singhvi said.
On Indian Markets, the direction will be decided by what happens to Dow Futures, Singhvi said. The global indicators are positive today.
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It is not the case that the US economy will start running if Biden comes. It is like an elephant which takes time to fall or get up.
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