Biden win inspired a market rally.

[mia]

U.S. Stocks Gain on Stimulus Hopes, Biden Surprise: Markets Wrap

Stocks rebounded as investors digested a surprise in the U.S. presidential primary and weighed the potential for more of a concerted effort by the world’s largest economies to tackle the fallout from coronavirus. The dollar advanced....

Part of the rebound also came from Biden’s surprise win, particularly in corners of the market most sensitive to the race’s outcome. Managed-care providers, threatened by Senator Bernie Sanders’ “Medicare for All” platform, surged, with UnitedHealth Group Inc. and Anthem Inc. each gaining more than 12%.

“The major theme is central banks are aggressively easing now and trying to offset any potential demand shock from coronavirus,” said Dennis Debusschere, head of portfolio strategy at Evercore ISI, in a phone interview. “It’s clear from talking with investors that Bernie Sanders was a negative tail risk so you have some improvement in the outlook as it relates to removing that tail risk.”

Investors are anxious for promised action by the Group of Seven to confront the virus while they’re buying risk assets on dips and watching the world’s biggest bond market move closer to negative yields. The Democratic contest posed a fresh challenge to President Donald Trump as nine states went to Biden, who’s positioned as a moderate against a more progressive Sanders in the race for the party’s nomination to take on Trump in November.

https://finance.yahoo.com/news/treasuries-crack-1-asia-stocks-220620051.html

[Farmer-Rick]

1. The Richest 10% of Americans Now Own 84% of All Stocks and are voting for Biden

The bankers like Biden because it means less change and maybe he'll let them keep Trump's tax giveaway. Biden is one of the most conservative Democratic candidates out there and will not get the youth vote. https://fivethirtyeight.com/features/young-democrats-have-rejected-biden-and-it-could-cost-him-the-nomination/

https://money.com/stock-ownership-10-percent-richest/

“The richest 1 per cent of Americans now account for more than half the value of equities owned by US households, according to Goldman Sachs. Since 1990, the wealthiest have bought a net $1.2tn in company stakes, while the rest of the population has sold more than $1tn.

Three decades ago, ownership was also lopsided, but the top percentage point of Americans by wealth only controlled 46 per cent of all US equities held by households. By the end of September 2019, that proportion had hit a record 56 per cent, amounting to $21.4tn, according to the investment bank’s calculations. That includes both public stock and ownership stakes in private companies... the returns to capital (owning stock) has been outpacing the returns to labor (pay from working).”

https://economics21.org/stock-ownership-equity-wealthy

[robbedvoter]

2. A Democrat in charge means hope for the economy. Always.

[Gothmog]

3. The Biden bounce

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