Kamala Harris’ Popularity And Hints of a Rate Cut Are Hurting ‘Trump Trades’

Recent polling shows Kamala Harris gaining in battlegrounds
Bond rally, stalled dollar suggest easing of Trump-related bet

WATCH: Federal Reserve Chair Jerome Powell says an interest-rate cut could come as soon as September.Source: Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Tania Chen, Winnie Hsu, and Carter Johnson

August 1, 2024 at 11:12 AM EDT

Updated on

August 1, 2024 at 6:14 PM EDT

This article is for subscribers only.

The surging popularity of Kamala Harris in US election polls and soaring odds the Federal Reserve will soon start cutting interest rates is dealing a double-blow to the so-called Trump trades.

In the 11 days since President Joe Biden declared he wouldn’t seek a second term and Democrats united behind the candidacy of Vice President Harris, strategies seen benefiting from a win by Donald Trump have lost steam. The dollar has stagnated, Treasuries have rallied and Bitcoin has slid.