House Oversight — Estate records
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From: Sent: To: Subject: Attachments: Richard Kahn_______________________________ 9/20/2016 7:58:13 PM jeffrey E. [jeevacation@gmail.com] Fwd: US Equity Insights - Clinton vs Trump stock baskets 0900b8c08bbd7ff1_4.jpg Importance: High Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel fa ce Begin forwarded message: From: Stewart Oldfield < Subject: FW: US Equity Insights - Clinton vs Trump stock baskets Date: September 20, 2016 at 9:25:31 AM EDT To: Richard Kahn < <!--[if mso 9]--> <![endif]--> From: David Bianco, Deutsche Bank [mailto Sent: Friday, September 16, 2016 6:47 PM To: Stewart Oldfield Subject: US Equity Insights - Clinton vs Trump stock baskets Deutsche Bank - Equity Research - North America US Equity Insights - Clinton vs Trump stock baskets 16 September 2016 (26 pages/ 2739 kb) Download the complete report Clinton vs. Trump: A sweep by either party would likely rattle markets HOUSE OVERSIGHT 030865 Our S&P targets and sector strategy assume a balanced outcome from the US general election on Nov 8th that maintains the current split in power. However, if Democrats keep the Presidency and take Senate or Republicans take the Presidency and keep Senate, it likely brings policy uncertainty and market volatility. Longer-term, it will be the policies and implementation that will influence markets, which both parties, many individuals and circumstances will craft. This note identifies sectors, industries and stocks that we think would be price sensitive to an unbalanced election outcome tilted toward one party. Dividing issues: Taxes, trade, favored infrastructure types and monetary policy It's difficult to pin down specific policies from either candidate, but on several economic issues their general bias is clear. These issues include taxes, trade deals, favored types of infrastructure — such as green vs conventional energy, preference for monetary policy, and also their expresse […]