What would a Hillary Clinton presidency mean for our jobs and 401(k) plans? What would a Donald Trump presidency mean for Wall Street and everyday investors?
Many economists, particularly in the banking industry, make it a policy to not comment on what’s become a heated presidential election race. After all, what’s the advantage of possibly losing clients by offending them with divisive commentary in a highly competitive banking environment?
But Greg Valliere, chief political strategist for Horizon Investments, which advises institutional investors, told the CFA Society of Detroit Thursday that while Democratic candidate Clinton is still expected to win, it would be unwise to underestimate GOP candidate Trump.
Valliere, who has been a guest on CNN and CNBC, said he’d still put the odds of a Clinton victory at 55%. But he only sees a 5% chance of a landslide for Clinton — meaning the chances are better that the GOP would retain the U.S. House of Representatives, the Senate, or both. And that prospect of potential gridlock in Washington would be viewed as a major plus for Wall Street.