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US presidential debate: Reactions by investors, economists

The Mexican peso gained 1.7 percent against the dollar.

By: Reuters |
September 27, 2016 10:38:24 am
Republican presidential candidate Donald Trump, left, stands with Democratic presidential candidate Hillary Clinton at the first presidential debate at Hofstra University, Monday, Sept. 26, 2016, in Hempstead, N.Y. (AP Photo/ Evan Vucci) Republican presidential candidate Donald Trump, left, stands with Democratic presidential candidate Hillary Clinton at the first presidential debate at Hofstra University, Monday, Sept. 26, 2016, in Hempstead, N.Y. (AP Photo/ Evan Vucci)

Democrat Hillary Clinton and Republican Donald Trump traded barbs and accusations Monday night (US time) in the first debate between the two ahead of the November 8 US presidential election.

Following is a compilation of reaction to the debate from investors, economists and financial market analysts.

Derivatives, Charles Schwab, Austin, Texas:

“The Positive reaction in the (equities) futures markets probably implies that Hillary Clinton was perceived as the winner. The market is often said to dislike uncertainty, and most experts seem to consider Donald Trump as the more uncertain candidate. Things could certainly change by morning, and a downturn in the futures between now and morning would likely imply an overnight shift in favor of Trump. I would be surprised to see that.”

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Peter Kenny, senior market strategist, global markets advisory group, New York:

“Both futures and the Mexican peso are accurate indicators of how markets interpreted the debates. Both moved only modestly but both also moved in tandem – higher. I believe that investors pricing in the odds of either candidate winning. Modest positive moves suggest that the Clinton campaign both managed expectations and delivered on beating them. The fear for investors was that she would either; have some physical issue, look weak or have an excuse for one or both. She looked sharp, on point and clearly delivered on a message and style that reassured markets. The Mexican peso’s rise in the time frame of the debate underscores that. The Mexican peso has risen but largely fallen in lock step with the perception of (Clinton’s) prospects for obvious reasons given (Trump’s) take on NAFTA.”

“I would suggest that the moves in both instruments were only modest but that we may see equity markets attempt at a reversal from today’s drubbing. If that occurs, it will likely have a short shelf life.”

Market reaction:

Stocks: S&P 500 emini futures gained ground over the course of the debate, with the contract price moving from down 5 points as the event began to up 11 points after it finished.

Bonds: 2- and 10-year Treasury yields rose modestly

Forex: The Mexican peso gained 1.7 percent against the dollar. The dollar index, meanwhile, was little changed as were exchange levels against the yen and euro.

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