A centrist government or a leftist government. I think it is the former. David we have a tweet from jeb bush. Congratulating president elect joe biden. We also have Boris Johnson congratulating president elect joe biden and Vice President elect Kamala Harris at the same time. Is this result good for business or bad for business or does it depend . To big prospects. Number one, a sense of stability. Get telegraphed in advance which is a good thing for business confidence. Secondly and more importantly, the chances of any significant tax hikes have diminished greatly. With Mitch Mcconnell, there will not be any big tax hikes and thats the big story for business. We have been so focused on covid19. We are over well over 100,000 cases a day in the united states. Can we expect a significant difference in the approach for of Joe Biden Administration and what will it look like . The Biden Administration will from back dr. Fauci wherever he has been exiled in the last couple of months. Dr. Fau
The careful counting of every ballot. Mr. Biden asks for every ballot to be counted, mr. Trump says he will go to the Supreme Court. Good morning. The news flowing every hour. Francine lacqua, it is pretty much as we expected, and we have not only seen the political results but the market gyrations in the last 24 hours. Francine tom, there are two outcomes the markets were fearful about, and those outcomes can much more possible in the last 24 hours. First, the joe biden presidency with a Republican Senate. We could have that. It is still mathematically possible. The other one, of course come a very contested election. If you listen to what President Trump said about an hour and 10 minutes ago, it is very clear that he wanted to go to the Supreme Court, ask that the Supreme Court step in, because unclear why, tom, because we are still counting votes. There is absolutely no evidence that something has been done wrong, but certainly fighting words from President Trump, and that will put
Today sonal desai, Franklin Templeton cio. There is a narrative out there that regardless of what happens in two weeks time, things will be ok, someone will deliver a fiscal package. How misplaced is that comfort that things will be ok . Sonal i think you have to break this up. First of all, the idea that within two weeks we will certainly know one way or the other. We dont know that for a fact. Over the last several months, the market has become increasingly comfortable with the idea that mailin voting will happen, we will have a blue suite, and it will be clear shortly after the election. And the election will not end up in court. It is a little risky to discount that completely. That is the first thing that could create a certain amount of nervousness in markets. The second issue is that fiscal package. Right now, we have come full circle of markets being concerned about a blue sweep to actually welcoming one because they are eyeing an eye watering we large fiscal package into next
I want to hear more of the music that was blaring in my ear. Heres where we are. Big out for big outperform are coming through, the s p 500 is up. The pound actually, as you can see now, positive, bouncing around all over the place, getting a negative hit earlier on around the idea that the u. K. Would walk walk away on the 15th. I dont think the market thinks either side will walk away. The eu said earlier on, and this was a report by bloomberg, the eu side is going to call the bluff on this. Britain saying were deftly going to walk away. The market is basically shrugging its shoulders. As you can see, a selloff in bonds is unsurprising, given whats going on at the moment. At the backend over the last few days, cathodes continue to steepen in the United States. Alix we did hear that music and you did an amazing job talking to that techno music. Thank you for that. In the u. S. , part of that is going to be about where we are and stimulus talks. Markets weighing down on the trump tweet
Tom its simulcast on television and radio and we welcome all of you around the world and across the nation. If youre in that odd east coast october, its the density of fog, for those of you on radio across washington to boston, drive careful. The fog is never its like a london fog, jon, its so bad. Tell me london is gorgeous. Jon its got a london feel. London is always gorgeous, beautiful. What else do you want me to say. Tom thank you. N radio its a tapestry of gorgeosity. Jon the beautiful sky. Tom thats a postcard jon just put up. I really want to focus away from the market and data, futures negative, dow down, and we forget the claims are in this hour, this nation on a labor basis, theres no other definition, its not an opinion, its flat on its back and you bring that over to a debate tonight, do you think it will come up . Jon i think it will come up repeatedly, tom. At the opening of the hour, the professor said it perfectly. For people at the bottom who are really, really strugg