September 27, 2019

Trump Impeachment Is a Market Nothingburger—for Now
(Bloomberg) -- Subscribe to What Goes Up on Apple PodcastsSubscribe to What Goes Up on Pocket CastsSubscribe to What Goes Up on Spotify House Speaker Nancy Pelosi’s decision to open a formal impeachment inquiry over President Donald Trump’s attempt to get Ukraine to dig up dirt on former Vice President Joseph Biden exploded in the news this week, sending a shudder through America’s political foundation. For investors though, it triggered a simple question: How should I trade this?Natixis Investment Managers Chief Market Strategist Dave Lafferty and Bloomberg reporter Luke Kawa join this week’s “What Goes Up’’ to break it all down.“In the near term, it doesn’t strike me as something tradeable,” said Lafferty. “We don’t know what we don’t know at this point; we don’t know what the revelations will be.” As 2020 approaches, however, “it has a lot of real market implications going into the election.”Lafferty also discusses using game theory to analyze how the impeachment proceedings may affect Trump’s trade war, and how central bank stimulus is having diminishing effects. “Super accommodative policy 10 years on now serves to undermine investor and consumer confidence, more than it does to instill it,” he said.Mentioned in this podcast:  Impeachment Latest Risk for Markets on Edge Over Trade, Growth Trump Whistle-Blower Goes Where Mueller Never CouldTo contact the authors of this story: Sarah Ponczek in New York at sponczek2@bloomberg.netMichael P. Regan in New York at mregan12@bloomberg.netTo contact the editor responsible for this story: Magnus Henriksson at mhenriksso10@bloomberg.net, David RovellaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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