BlackRock’s Boivin Says Disputed US Election Is Underpriced Risk
- Polls show a dead heat, even as markets suggest a Trump win
- Trying to trade the result is a “fool’s errand,” Boivin says
A supporter at a campaign rally outside Christ Chapel in Zebulon, Georgia.
Photographer: Yasuyoshi Chiba/AFP/Getty ImagesThis article is for subscribers only.
Markets are underpricing the risk that one of the US presidential candidates contests the results of next month’s election, according to the BlackRock Investment Institute’s Jean Boivin.
Boivin, managing director at the research arm of BlackRock Inc., the world’s largest asset manager, sees a disputed victory leading to “weeks of very disrupting legal battles” that could roil assets. Treasuries are already reeling from a selloff that’s pushed up benchmark yields more than 40 basis points this month, while stocks remain near a record high.