Goldman Sachs: traders overestimated the risk to financial markets of a ‘difficult’ U.S. election result
Goldman Sachs Group said global investors overestimated the risk of financial markets being plunged into uncertainty by next week's ‘difficult’ US presidential election results. Michael Cahill, Lexi Kanter and Alec Phillips of the firm said: ‘While we recognise the potential for tail risks, we believe that market participants appear to be overestimating the probability that a delay in the election results will prevent financial markets from digesting the likely outcome on election night or early the following morning. ’
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