What a wild weekend! You did hear about the attempt on Trump's life, right?
Just crazy how one event can fire earthquakes in this entire financial world. I've practically been eyeing the markets like a slave since then, and let me tell you, things are just getting interesting.
Bitcoin is up on a tear, hitting as high as $62,500, and I believe this surge has to do directly with that pro-crypto feeling of Trump. It's only amazing how politics and finance are so interwoven nowadays.
Now, turning to politics, Trump's chances have increased enormously. I looked yesterday, and Betfair Prediction Markets give it a 70% chance now. That's huge! I reckon this assassination attempt might have done their part in showering some sympathy votes on him. Grim way to get a bump in the polls, but that's what we are living through.
This means the shockwaves are felt across the board. I have also watched that even the Chinese yuan and the Mexican peso bruised a little. That makes sense in some respect as Trump has been stated to be making tough talk on the trade. If he really does go back to office, then we just may witness those tariffs make a comeback.
Some of the other things I have kept under watch would be the Treasury market, which is creeping up in yields, telling me investors dial down for more government spending and bigger deficits under a possible Trump presidency.
It's actually what shocked me the most: how the crypto community has become such an underestimated powerful voting bloc. Trump has done a full 180 on Bitcoin and is now scheduled to speak at a major crypto conference.
Oh, I think for his part it's pretty smart, but boy, does that make me wonder at the sincerity of their stance on tech matters bled out in these politicians.
Looking ahead, I'm curious to see how this all plays out. Will the markets simply ride this "Trump trade" wave? Or will things smooth out as we get closer to the election?
Anyways, it's going to be eventful in these next few months. I am just buckling up for a bumpy financial market ride. Who knew an assassination attempt could have so many major repercussions? Just goes to show how really connected our world is.