While I’m working on a piece to again attempt – more graphically this time – to explain the fragility of highly categorized poll results, the news of the election’s uncertain outcome pours in. Readers should take special note of the financial markets in which the big kids such as the very wealthy, institutional funds, corporations and corporatists, and nation-states play. A look at the way they are placing their bets today indicates these people are extremely anxious in their ignorance about the results of 8 November. As an example I point you to today’s ‘Selling Sweeps Global Government Bonds; U.S. 10-Year Yield Above 1.8%’ that reports on how the market for the ‘risk free’ securities is behaving. The financially astute recall it is the risk-free Treasuries’ rate that underpins all other rates for leveraging the purchase of everything from houses through commodities to corporations.
However, in these pages we are fortunate to have readers who are blessed with powers of insight that totally abolish all such doubts, having replaced it with the certitude of Job to know and assure the rest of us on the outcome of the upcoming election, especially when we focus on the race for president. Perhaps it would be a public service if some of these shrewd rural county Californians would deign pick up the phone or write an email to those nail biters on Wall Street and the world’s financial centers, and share their wisdom to resolve the matter, thereby restoring a blessed quietude over the roiling markets. Methinks it would be the least they could do in these troubled times.