I think if Biden wins and goes heavy on fiscal stimulus it will be good for CME — yields on long end of the curve will go up sustainably and 2/3 of their rate contracts are longer duration.
No matter who wins the election, exchanges face the threat of more regulation & higher taxes. Lockdowns keep remote work data & electronic trading demand strong, so a Biden win may be a boost in that sense. Most of all the industry wants unhealthy election volatility to fade.
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I also think is we don’t have crazy trade drama with China that will help other commodity categories like Ag
End of conversation
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