TheCable5Market Updates5Note from the CIO 10th November

Market Updates

Note from the CIO 10th November

Articles | 10 November, 2020

US ELECTIONS

WHAT HAS HAPPENED (IN CASE YOU HAVE BEEN LIVING UNDER A ROCK)?

Joe Biden has won the US presidential election.
The Senate will probably stay in Republican hands (all eyes are on Georgia for the results of the runoff in January).
Biden had an ambitious agenda with regards to major spending programmes (healthcare, clean/renewable energy, infrastructure, and education amongst others), but without a clean sweep there could be policy gridlock.

DOES THIS MEAN THAT PRESIDENT-ELECT BIDEN WILL HAVE HIS HANDS FULLY TIED?

Some key policies can still be achieved through executive action, like changing course on climate change:

The US is set to re-join the Paris climate agreement
Biden is to halt new drilling permits on federal land, BUT he pledged not to negatively impact US shale oil/gas production
The importance of renewable energy will grow
For other policies (like healthcare reform or corporate taxes), Biden will have to find compromise if Mitch McConnell (Senate majority leader) is to agree with him.

Read the whole note here

Written by Investment Desk

If you would like to speak to Investment Desk about your investment requirements, please use the contact form here.

Latest Content

Market Updates

March 2024 Monthly Commentary

Articles | 17 April, 2024

MACRO March was a strong month for markets, with almost all asset classes in positive territory. Economic data overall was positive, with job openings and nonfarm payrolls (the…

Tax Planning

Spring Budget Update

Articles | 20 March, 2024

The chancellor Jeremy Hunt delivered his Spring Budget to parliament on 6th March. With significant tax changes having been rumoured over the past month, some of these were…

For more US Expat content direct to your inbox monthly, sign up to our newsletter.

SIGN ME UP

The value of investments and any income from them can fall as well as rise and neither is guaranteed. Investors may not get back the capital they invested. Past performance is not indicative of future performance. The material is provided for informational purposes only. No news or research item is a personal recommendation to trade. Nothing contained herein constitutes investment, legal, tax or other advice. Copyright © London and Capital Asset Management Limited. London and Capital Asset Management Limited is authorised and regulated by the Financial Conduct Authority of 12 Endeavour Square, London E20 1JN, with firm reference number 143286. Registered in England and Wales, Company Number 02112588. London and Capital Wealth Advisers Limited is authorised and regulated by both by the Financial Conduct Authority of 12 Endeavour Square, London E20 1JN, with firm reference number 120776 and the U.S. Securities and Exchange Commission of 100 F Street, NE Washington, DC 20549, with firm reference number 801-63787. Registered in England and Wales, Company Number 02080604. London and Capital Wealth Management Europe A.V., S.A. registered with the Commercial Registry of Barcelona at Volume 48048, Sheet 215, Page B-570650 and with Tax Identification Number (NIF) A16860488, authorised and supervised by the Comisión Nacional del Mercado de Valores (“CNMV”), and registered at CNMV’s register under number 307 (https://www.cnmv.es/portal/home.aspx).