• By The Financial District


US President Donald Trump and Democratic rival Joe Biden debated for the last time ahead of the Nov. 3 presidential election after a record 47 million Americans already have cast ballots, eclipsing total early voting from the 2016 election, Reuters reported.

Business analysts said the debate was more civilized and they saw Biden doing well, with fact checkers pointing out dozens of Trump’s lies in real time. The analysts in both the US and weighed in on the matter.

“The tone of the debate, while certainly calmer and more coherent than their first ‘debate,’ probably doesn’t change the campaign dynamic. In terms of the market, Vice President Biden has been adamantly defending his position that he’s not the Trojan Horse ready to insert socialism into the economy. The president has been insisting that Biden’s agenda will lead to a decidedly socialist system,” Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey said.

“The financial markets appear comfortable with the prospect of a Biden presidency. Remember that our government is much more than just our president. Our best presidents have been leaders, negotiators and they united our country,” Tim Ghriskey, chief investment strategist of Inverness Counsel of New York, stressed. 

“It was a slightly more civilized debate this time around, but Trump failed to make up for lost ground from the first debate. Biden came through better than Trump in this debate and this should help to cement his lead over Trump and may just help him to cross the final line with a win. Biden was more persuasive in the debate on COVID-19 and the stalemate with fiscal stimulus, which are critical issues for the American people and that should benefit him in the polls,” Vasu Menon, senior investment strategist of OCBC Bank wealth management of Singapore said. 

“Trump’s behavior is better than the previous debate, which is good for him, but Biden has been able to show his leadership. I don’t think this debate is going to change Trump’s probability of winning. That we can see from the reaction in futures and markets,” said Masafumi Yamamoto, chief currency strategist of Mizuho Securities of Tokyo .