MON 22 JULY

•Biden’s will not seek re-election eventually endorsing VP Harris for the Presidency.

•Earnings: Sands China. Verizon

TUE 23 JULY

•Earnings: Alphabet, Tesla, Visa, LVMH, Coca Cola, Texas Instruments, UPS, Lockheed Martin, Hindustan Unilever, Bajaj Finance, Nidec and KB Financial.

WED 24 JULY

•Earnings: Deutsche Bank, IBM, AT&T, Boston Scientific, Hynix, Larsen & Toubro, Axis Bank, Tata Life and Bajaj companies.

•In the US mortgage applications and home sales figures will be out.

•The Bank of Canada will be announcing its latest rate decision.

THU 25 JULY

•Earnings: American Airlines, Unilever, Nestle, AstraZeneca, Hyundai Motor, LG Electronics, LG Chem, Nissan, Canon and Posco.

•In the US GDP, PCE and personal consumption data will be released.

FRI 26 JULY

•Earnings: Hermes, Keyence, CATL, Shin-Etsu Chemical, Kia Motors, Nitto Denko.

•In the US personal income and spending data, Michigan sentiment numbers out.

THE TRUMP TRADE

• US electionsweep (one party wins both the White House & Congress) = higher stocks.
• 
• US election sweep (one party wins both the White House & Congress) = higher bond yield.
• 
  
• US electionsweep(one party wins both the White House & Congress) = higher USD.
• 
  
• No rotation from US to international equities.
• 
  
• Large caps to small caps. US small cap funds see 2nd largest weekly inflow ever.
• 
  

(source:Bloomberg)

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