Many capital raisers avoided bringing deals this week and have funded ahead of schedule to avoid markets after the US election, But some still have business to do. Those institutions needing cash will be praying for what is anticipated will be a benign, even bullish, response to a Hillary Clinton victory next week.
But a Trump win could send investors scurrying as they appeared to do this week. They are already mindful of excessive risk so close to December after a year of meagre yields across asset classes, and negative rates. The rally in US Treasuries, and falls in equity indices this week as Trump made ground on his Democrat rival, will be exacerbated if he presses home his advantage decisively next week. Bond buyers will keep clear.
A Trump victory may still be the least likely outcome, according to polls, but after the UK shocked the world by voting to leave the EU in the summer, investors will be on edge and poised for a rush for safe-haven assets which could close markets for the year.
GlobalCapital this week brings you full coverage from the capital markets as to how each is gearing up for polling day.
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Election coverage highlights:
SSAs: tight US election result ‘most dangerous’ outcome
US elections spur corporate deal flow as issuers mull Trump win
US loans face up to a ‘chilling’ election but EMEA undaunted
FIG issuers use roadshows to bridge date of finely balanced US election
Derivatives markets fall to jitters as volatility jumps for Trump
