For the big money on Wall Street, there’s the prep that’s bound to come with a coin-toss election that could dramatically swing policy. Trading desks staffed through the night, with teams in Hong Kong and Singapore enlisted to help. Tracking popular “Trump trades” — long the dollar, short bonds — ready to pile in or quickly unwind.
And then there are the steps taken for an election season like no other. One London-based hedge fund primed its “shock” computer model especially for this moment. Banks are preparing for the risks, however remote, of civic violence — a prospect that would shake the US, the world and global financial markets.
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