US VP Debate: Markets disregard a civilized debate

Vice-President Mike Pence and Senator Kamala Harris debated for 90 minutes in Salt Lake City and the contest was civilized compared to the Trump-Biden slugfest. The responses on the economy, taxes and coronavirus from both the Vice-Presidential contenders Kamala Harris and Mike Pence failed to have any market reaction, Joseph Trevisani, an Analyst at FXStreet, reports.

Key quotes

“Pence defended the administration's record on the pandemic, citing the closure of travel to China In January which Biden criticized at the time while Ms. Harris noted the number of deaths from the virus and asked how that could be considered a success?” 

“On the economy, Mr. Pence noted that the Biden promise to repeal the Trump tax cuts on ‘day one’ would raise levies on all Americans. Ms. Harris countered by saying that Joe Biden will only raise taxes on those earning more than $400,000 a year.”

“On the whole, the debate between Vice-President Mike Pence and Senator Kamala Harris was a far more proper affair than the prize-fight between Trump and Biden. Even the interruptions, of which there were many fewer, were polite. On points, Pence scored more often but Harris was adamant in critiquing the Trump administration.”

“Markets will ignore the content of the discussions and note only that neither candidate caused a catastrophe.”

“Both campaigns will proclaim victory but the one sure winner was the American political process.”