The attempted assassination of Donald Trump, Joe Biden's withdrawal from the race, and the rise of Kamala Harris: unexpected twists have emerged in the US presidential election.
In light of these new developments, our experts have released part two of the UBP Headlines series to examine the implications for investments.
Since Joe Biden withdrew from the 2024 presidential race, the Democratic Party has been seeking to revitalise its campaign. Vice President Kamala Harris's nomination has helped stabilise party support following a poor debate performance between the current President and Donald Trump in June.
As Kamala Harris’s popularity rises, it’s time to prepare for increased volatility. This follows a strong rebound in equity and credit markets into early July, amid growing expectations of a potential second presidential term for Donald Trump.
Looking ahead to 2025, investors should shift their focus to the active selection of sectors, stocks, and currencies as the likely winner becomes clearer. Our strategist, Norman Villamin, expects fiscal uncertainty associated with a new presidential administration to lead to both economic and geopolitical challenges. In this context, gold is likely to emerge as an attractive buffer against potential market volatility around the transition into 2025.
