I'm Steve Auth, Chief Investment Officer, Federated Hermes.
What will a Biden presidency mean for the markets?
A Biden presidency probably is a mixed blessing for markets but we think market's going to overlook it in 2021. The power of this cyclical recovery is so strong that I think politics are really going to take a back seat in 2021. Particularly if we get a divided government scenario which seems to be the case as we enter the year. This is not going to be a lot that's done. You know, if the president, the new president elect if he goes to a more radical agenda, heavy tax programs, et cetera I think that's probably not positive for markets. By the other hand, he'll spend a lot of money and that is positive for markets. So we think it's kind of a mixed blessing, but certainly not one that's really an area of concern in 2021. I mean, once we get through 2021 and we see what he really does, we can start to reevaluate maybe our long-term picture but for now, we think things are pretty attractive.
Disclosure: Views are as of 12-22-20 and are subject to change based on market conditions and other factors. These views should not be construed as a recommendation for any specific security or sector. Federated Global Investment Management Corp. 21-40007 (1/21)