Markets Underprepared for a Trump Win, Says Morgan Stanley
Markets are playing catch-up as Trump's polling improves.
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Trump's not favorite to win the election. If he wins, his administration might achieve little in its early days. Still, markets are woefully underprepared for the possibility of a Trump presidency, Morgan Stanley writes in a note ahead of the candidates' first debate.
As a Bloomberg poll shows Donald Trump in a dead heat with Hillary Clinton going into their first major televised encounter, it's got to the stage where "nit-picking on poll 'skewing' and 'low propensity voters' is less important than fleshing out how investors should deal with a Trump win," says the group of Morgan Stanley analysts, who include Michael Zezas and Andrew Sheets, adding that investors should stop treating the real estate mogul's win like an outside risk.