President Trump’s approval ratings have continued to drop in the past week with the unprecedented rise in jobless claims and official end to the longest US expansion in history offsetting the positive from the ongoing stock market recovery (Chart 1). His comments on using disinfectant to combat coronavirus probably did not help either. Prediction markets still see Biden beating Trump in November, but a lot could change before then. In particular, Hilary Clinton’s recent endorsement of Biden will give Trump more ammunition to attack him. (Chart 2).
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President Trump’s approval ratings have continued to drop in the past week with the unprecedented rise in jobless claims and official end to the longest US expansion in history offsetting the positive from the ongoing stock market recovery (Chart 1). His comments on using disinfectant to combat coronavirus probably did not help either. Prediction markets still see Biden beating Trump in November, but a lot could change before then. In particular, Hilary Clinton’s recent endorsement of Biden will give Trump more ammunition to attack him. (Chart 2).
Bilal Hafeez is the CEO and Editor of Macro Hive. He spent over twenty years doing research at big banks – JPMorgan, Deutsche Bank, and Nomura, where he had various “Global Head” roles and did FX, rates and cross-markets research.
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