Markets Shouldn’t Count Mike Bloomberg Out Just Yet, Citi Says
- Bloomberg policies may not be as ‘vanilla’ as investors assume
- Victory may mean tough financial rules, higher taxes for REITs
Michael Bloomberg speaks a rally in Salt Lake City, Utah, on Feb. 20.
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Markets should pay close attention to Democratic presidential candidate Michael Bloomberg as a counterweight to Bernie Sanders, and as the likely trigger of a brokered convention that may lengthen primary season uncertainty to June from March, according to Citi.
“Importantly, markets may assume that Bloomberg as a candidate is a benign and market friendly scenario,” economist Dana Peterson said in a note. Instead, “his campaign platform suggests a less vanilla outcome.”