ChainCatcher news, according to Caixin, the outcome of the U.S. election, which could significantly affect policy direction, is uncertain, and Wall Street is on high alert. Trading desks will have overnight shifts, 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 quickly close out. Some institutions are taking unprecedented measures for this election. A London-based hedge fund has prepared a 'shocking' computer model for this moment. Some banks are preparing for the risk of social unrest, no matter how distant that risk may seem, as it could shake the U.S., the world, and global financial markets if it becomes a reality. 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 ready to go online from home.
U.S. employees across the industry are preparing for overnight work. As Harris and Trump make their final push to persuade voters, American society is polarized, and the election is so close, the financial industry is simulating possible impacts. Currently, the market believes Trump will win. The stock market is rising, the dollar and cryptocurrencies are also up. Bond yields are climbing. If Harris ultimately wins, the 'Trump trade' could quickly reverse, leading to significant market volatility overnight.
