Market Shouldn’t Fret Biden Presidency, Scowcroft Group Says
- Little progressive policy may be enacted: Gallagher and Nealer
- Investors should also consider risks from a Trump victory
Joe Biden
Photographer: Ryan Collerd/BloombergThis article is for subscribers only.
Some on Wall Street may be starting to get nervous about the idea of a Joe Biden presidency, but such fears may be misplaced, according to a veteran Washington advisory group.
“There is no question that in the short-term investors prefer GOP victories,” the Scowcroft Group’s Tom Gallagher and Kevin Nealer, who each have followed policymaking in the U.S. capital for decades, wrote in a recent note. Even so, “history says investors shouldn’t be nervous” about a Biden victory, they wrote.