The business of politics, politics without policy
Last Friday marked the end of the second quarter and the day after the first, and for Biden disastrous, televised debate of the 2024 US Presidential election – yet markets have been reasonably calm. Large institutional investors are in the midst of their calendar driven portfolio rebalances without causing big price moves between asset classes.
Last Thursday’s US Presidential debate was always going to grab our attention, and we all knew that the event was a test of fitness for Presidency rather than a proper policy debate. Would Biden be sharp? Would Trump lose control?