A dour view from Greenlight Capital’s David Einhorn in a note to investors:

• From a market perspective, we don’t think it matters very much who wins
• “The economic policies of both parties are remarkably similar.
• Both favour large deficits despite a strong economy.
• We believe this supports our ongoing expectations of higher secular inflation in the coming years

Higher inflation argues that interest rates will remain higher than otherwise. At the margin.

—

Nearer term, markets are favouring a September Federal Reserve rate cut:

This article was written by Eamonn Sheridan at www.forexlive.com.