Wall Street works overnight for the U.S. election and seeks support from Asia, preventing riots and major changes in "Trump trade" positions
ChainCatcher news, according to Caixin, the outcome of the U.S. election, which could significantly impact policy direction, is uncertain, and Wall Street is on high alert. Trading desks will have staff on duty overnight, and teams in Hong Kong and Singapore are arranged to assist. The "Trump trade" of going long on the dollar and shorting bonds may increase positions or be quickly closed out. Some institutions are taking unprecedented measures for this election. A London-based hedge fund has prepared a "world-shocking" computer model for this moment. Some banks are preparing for the risk of social unrest, no matter how distant that risk may seem; if it materializes, it would shake the U.S., the world, and global financial markets. JPMorgan plans to increase staffing in Europe and Asia to handle overnight trading and volatility; Goldman Sachs expects hundreds of sales and trading teams to work late into the night in New York, with more people ready to work from home.Employees across the industry in the U.S. are preparing for overnight work. As Harris and Trump make their final push to rally voters, American society is polarized, and the election is so tightly contested that the financial industry is simulating potential impacts. Currently, the market believes Trump will win. The stock market is rising, and both the dollar and cryptocurrencies are up. Bond yields are climbing. If Harris ultimately wins, the "Trump trade" could quickly reverse, leading to significant market volatility overnight.
