Scott Bessent, founder and CEO of Key Square Capital Management and former Soros fund manager, weighs the economic plans of Trump and Harris, weighing the market’s lead-up to the election. We will focus on the movements that are driving this and explain the support for the 45th president.
A billionaire investor and former money manager for George Soros has explained why he thinks the market is “very confident” that former President Donald Trump will win the 2024 election.
Over the past 12 days, Wall Street “seems very confident that Trump will win… You see that in bank stocks, you see it in cryptocurrencies,” Stanley Druckenmiller said in an interview on Bloomberg TV on Wednesday. .
It’s certainly been a big week for bank stocks, with market data showing positive year-over-year indicators for Bank of America, Wells Fargo, Citibank, and JPMorgan Chase.
Furthermore, a new report released by Chainalysis on Thursday found that North America dominates the global cryptocurrency market, with an estimated $1.3 trillion sitting on the blockchain.
Trump Media Stocks Revive as Former President’s Election Chances Increase
When asked who he plans to vote for in November, the investor said: “I definitely don’t support either person.”
Stanley Druckenmiller told Bloomberg that he and the market are “very confident” that Trump will win the November presidential election. (Getty Images)
Mr. Druckenmiller worked as a hedge fund manager for left-wing media mogul George Soros before founding his own investment firm, Duquesne Capital, in 1981.
He also told Bloomberg that Trump is an “abuser” and that he believes a Harris-Waltz presidency would be bad for business.
“If you go to vote, you’re probably going to write to somebody,” he said.
Former President Donald Trump speaks with “Fox & Friends” about the Al Smith benefit dinner, Vice President Harris’ decision to skip the event, and his track record heading into the 2024 presidential election.
Turning his focus to Congress, Druckenmiller said that even if Vice President Harris were elected, it was “very unlikely” that Democrats would control both chambers of Congress, adding that the possibility of a Red Army sweep was “probably President Trump’s “It’s more likely that he will be elected to Congress.” . ”
Scott Bessent, another Soros Fund alumnus, appeared on FOX Business’ “Morning with Maria” this week and said that Trump is proposing a “growth agenda” and that world leaders are ” He claimed to know that he meant business.
“We expect President Trump to win, and we want to provide all the support we can domestically and internationally,” the CEO of Key Square Capital Management said Wednesday. Without it, there would be no work.” .
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Republican pollster Mitchell Brown discusses whether President Trump can maintain momentum after Harris’ interview on Fox News’ “Bernie & Co.”
“Donald Trump has added a new leg to the Trump chair. Alexander Hamilton loved tariffs. And that’s what Donald Trump did. He added a bargaining chip.” Bessent added.
According to the Wall Street Journal, the market’s betting odds are also heavily skewed toward Mr. Trump, as four Polymarket accounts have poured about $30 million in virtual currency into bets that the 45th president will win.
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