Tom Lee, Fundstrat’s Tom Lee, says the financial markets have placed their bets on Donald Trump winning in November.
Lee said in a recent interview with CNBC that the markets believed that Trump had a better chance of winning than traditional polls.
To an extent, it seems that markets believe Trump’s chances of winning to be higher than what polls show.
When the market becomes more confident, you will see that cyclicals, small-caps, and Bitcoin perform better. These are clear policy differences.
“Yes, to me. I believe that over the past couple of days market has bet on Trump having better odds than polls.
Real Clear Politics reports that Democrat candidate Kamala has a slight lead in polls over Trump, based upon an average of Rasmussen data, Pew Research and Ipsos.
Lee said previously that lower Federal Reserve rates – for which Trump is rumored to have expressed support – may be what drives Bitcoin (BTC), or the digital currency, up to $100,000.
It is not impossible to reach $100,000, or higher. Bitcoin moves very quickly. For many years, we have shown that Bitcoin gains most in the first ten days of trading if one looks at percentage gains. The ten trading days may all fall in the second half this year .”
Bitcoin was worth $64,225 at the time this article was written.
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Sources of Images: Pixabay Creative Commons DALLE3
The post Markets believe that Trump will win, boosting stocks and bitcoin: Fundstrat’s Tom Lee could be updated as new information becomes available.
