Dow Futures Soar 240 Points, Global Stocks, Oil, Dollar Jump After FBI Clears Hillary Clinton





US Index futures, European and Asian shares surged most in weeks after the FBI cleared Hillary Clinton one last time of her handling of emails as secretary of state which it repeated wasn’t a crime. Oil, gas rise, together with most industrial metals; the VIX, yen and Swiss franc retreated with gold, silver and other flight to safety assets.

The FBI news lifted a cloud over Clinton's presidential campaign two days before the U.S. election and put Wall Street firmly on track to snap a nine-day losing streak - its longest in more than 35 years.

The US public and global markets were stunned for the second time in two weeks by the FBI, when James Comey announced in a letter to Congress just after 3pm on Sunday the Bureau was sticking with its view that Clinton’s handling of e-mails during her tenure as secretary of state wasn’t a crime, after reviewing new communications potentially related to the Democratic candidate. Comey’s announcement just over a week earlier that the bureau was looking into more e-mails sparked a selloff in risk assets, with U.S. stocks capping their longest run of losses since 1980. The peso’s fortunes have been tied to Trump’s campaign given his pledge to renegotiate trade deals with Mexico and to build a wall along the U.S. border, Bloomberg reminds us.

According to a snap assessment by Deutsche Bank, with the election still largely in the margin of error, "a Clinton victory would be most likely to maintain the status quo policy wise and as our US fixed income strategists point out most likely to continue with financial repression tactics.

We would probably have a short-term rally in risk and yields would spike a bit higher under this scenario. However could she get much fiscal stimulus through? If not this would cap the rise in yields.

A Trump win is more likely to bring higher fiscal stimulus and an easing of financial repression. The uncertainly of what his policies would mean and the fact that financial repression is good for assets (all other things being equal) will probably mean a short-term risk asset sell-off. The scale and effectiveness of the possible fiscal stimulus would then play a big part in dictating risk assets over the medium term.

The range of outcomes for asset prices and the economy (bad and good) are much higher with Trump."

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Source : http://investingchannel.com/article/406002/Dow-Futures-Soar-240-Points-Global-Stocks-Oil-Dollar-Jump-After-FBI-Clears-Hillary-Clinton

Dow Futures Soar 240 Points, Global Stocks, Oil, Dollar Jump After FBI Clears Hillary Clinton
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Dow Futures Soar 240 Points, Global Stocks, Oil, Dollar Jump After FBI Clears Hillary Clinton
Dow Futures Soar 240 Points, Global Stocks, Oil, Dollar Jump After FBI Clears Hillary Clinton
Dow Futures Soar 240 Points, Global Stocks, Oil, Dollar Jump After FBI Clears Hillary Clinton
Dow Futures Soar 240 Points, Global Stocks, Oil, Dollar Jump After FBI Clears Hillary Clinton
Dow Futures Soar 240 Points, Global Stocks, Oil, Dollar Jump After FBI Clears Hillary Clinton
Dow Futures Soar 240 Points, Global Stocks, Oil, Dollar Jump After FBI Clears Hillary Clinton