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US markets (^DJI, ^IXIC, ^GSPC) have been particularly volatile in the wake of the attempt on former President Trump's life at a campaign rally in Pennsylvania on Saturday. Pinebridge Investments global head of multi-asset Michael Kelly sits down with Madison Mills on Catalysts to talk about the "more of the same" political trends that have driven equities in recent and past election cycles.
Kelly touches on the policy stances setting Trump and Biden apart and how stocks could already be pricing in a second Trump presidency.
"There's actually three big ones which is we're in a very tight labor market, and it's been alleviated by immigration. You can have all kinds of political views on on immigration, but the tight labor market is being alleviated by that. So the two candidates have very, very different policies. Tariffs, they're more similar than dissimilar, it's a matter of degree. Taxes, as we said, it's a matter of degree," Kelly says to Yahoo Finance. "Regulation is a big divide, a big divide. In the first Trump presidency, you saw a big rollback of regulation. It was quiet, but it was significant. And Biden has been advancing that. So that's going to that's going to be a big factor as well."
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This post was written by Luke Carberry Mogan.