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SUMMARY
From Bitcoin hitting a record high to a sharp spike in yields, these Trump trades are back in the spotlight after Donald Trump is currently in the lead in the US Presidential Election.
1 / 7Trump trades are gaining prominence as the former US President Donald Trump currently leads in the fight to the White House against Vice President and Democratic nominee Kamala Harris.
2 / 7The lead for Trump has put all of the so called “Trump Trades” in the spotlight as the former President is currently leading in key battleground states as well.
3 / 7A Trump win would be positive for US equity markets, particularly midcap and smallcap stocks. While the Dow Jones futures are now up 600 points, futures on the Russel 2000, which is the Smallcap index, are also up as much as 3% as counting continues.
4 / 7Trump Media & Technology Group shares gained as much as 27% in extended trading when early trends began to trickle in. As of 8 PM ET, the stock was up 10%. The company reported quarterly results as well last night, reporting a net loss as sales remained subdued. The stock though, has always been a proxy on Trump’s return to the White House instead of moving on fundamentals.
5 / 7The US 10-year yields surged as much as 18 basis points to a four-month high of 4.46%. The US Dollar too has jumped the most since March 2020.
6 / 7Bitcoin, which is said to be the biggest Trump Trade, has surged to a record high of $75,000. Trump intends to make the US the Crypto Capital of the world. Relaxed regulations, if Trump comes to power, can also boost sentiment.
7 / 7Analysts on Wall Street believe that Trump’s pro-growth stance on industrial policy, corporate tax cuts and tariffs could boost stocks and fuel inflation, spurring bond yields and the US Dollar higher.
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