Investors must realise the pendulum of history is swinging to Bidenomics

Contributing sentiments towards policy:

68% : More than 40 years ago, Ronald Reagan embraced a policy swing towards free-market, free-trade policies.
68% : More specifically, Biden embraced "smart investments in America" to create an "economy that grows the economy from the middle out and the bottom up instead of just the top down", with a new focus on industrial policy and government oversight for markets.
60% : More strikingly, before Biden, the administration of Donald Trump started to embrace "America-first" trade policies and the idea of government intervention in supply chains on national security grounds.
50% : Then there is the (justified) concern that re-industrialisation policies and protectionism are apt to be inflationary.
40% : And even if the Democrats do win next year's election, the bond markets might take fright at full-blown Biden ideas, particularly if this entails more public spending amid rising government debt.

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