Tuesday 21 November 2017

Taoiseach in a state of swing

DURING a visit to the swing state of Ohio last week to cover a visit by Taoiseach Enda Kenny, it was striking how many of the Americans who came to listen to Mr Kenny are shifting their allegiance from Democrat to Republican. This is important because no Republican candidate has ever won the US presidential elections without winning Ohio. Polls suggest the surge towards Mitt Romney is being replicated across the US.

Deutsche Bank released an interesting report earlier this week predicting bond and stock sell-offs in the event of a Romney victory because investors will worry about an end to the Fed's policy of easy money.

Curiously, the authors believe that Mr Romney will probably end up continuing Ben Bernanke's ultra-accommodative policy but suggest the market will sell off first on fears about a change.

With Paddy Power offering odds of 2/5 on an Obama victory and odds of 15/8 on a Romney win, it might be time to tinker with your portfolio.

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