Markets usually respond to various economic and political developments. How did they react to the Biden inauguration?
The inauguration of new United States president Joe Biden went off without a hitch. While his inauguration happened under a cloud of Covid-19, there were also other concerns from a security, political and economic point of view.
The markets showed one of the biggest reactions which has never been seen in a long period of time.
Speaking in an interview, Alastair Macleod of Wheelhouse Partners expressed optimism on the economic developments moving forward.
“We have seen one of the biggest market reactions not seen for over 80 years or something. The message from that is that while the actors in political offices have changed, we can still expect the new team to still pursue similar monetary policies. Monetary policy will still be anchored around more stimulus and liquidity being pumped into the market. The economy really needs additional stimulus and that feeds into how markets react. Today is a sweet spot for stocks”, explained Alastair.
The Biden inauguration certainly marks a new page politically and economically.