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Banks react to Trump presidency

Published 11/09/2016, 04:19 AM
Banks react to Trump presidency
C
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BAC
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GS
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JPM
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HSBA
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BARC
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LLOY
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NWG
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INGA
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CSGN
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DBKGn
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WFC
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MS
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USB
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UBSG
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  • Donald Trump's victory throws into question the core assumption the Fed will raise interest rates soon and follow with further gradual hikes over coming years.
  • Banks are struggling on the news. Fed Funds futures are now pricing in less than a 50% chance of a December move and the ECB is likely to interpret the uncertainty with stimulus and lower rates for longer.
  • Premarket movement: GS -8.3%, WFC -3.5%, C -3.2%, BAC -2.4%, CS -2.3% JPM -2.2%, LYG -1.8%, HSBC -1.7%, USB -1.4%, BCS -1.5%, ING -0.6%, MS, DB, RBS, UBS
  • #Election2016

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