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US Drop-In: After Biden – Macro and market risks as the election race takes a twist

The dramatic departure of Joe Biden throws fresh uncertainty into the US presidential election race. With just over three months to go, Democrats are scrambling to agree a candidate and Donald Trump is looking only slight less likely to win in November in light of Sunday’s news.

How should investors process this latest lurch in this extraordinary race for the White House? What would Donald Trump’s re-election mean for the US and global economy? Would the Democrat who ends up on the ballot spell continuity or change for US policy?

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