The Mexican peso and U.S. stock futures rose on Monday as investors saw less chance of Republican nominee Donald Trump winning next month's presidential election after the second televised debate. Ivor Bennett reports.
The vote is still 4 weeks away but the market, it seems, has already made up its mind. The second US presidential debate merely reinforcing the notion of a Clinton win. (SOUNDBITE) (English) HEAD OF MARKETS AT CITIGROUP, AUSTRALIA AND NEW ZEALAND, ITAY TUCHMAN, SAYING: "For those that think that, like I do, that Trump has a very, very low chance of being elected it might be a good time to be long on global equities." The debate itself was seen as a draw. But it was Trump who had ground to make up. After the release of a video from 2005 in which he's heard talking about groping women. The punches were thrown but no knock-out blows landed. Asian shares and US futures both creeping higher. While the biggest mover was once again the Mexican peso At one point, up as much as 2 percent against the dollar. (SOUNDBITE) (English) AMERICAN DEMOCRAT, IRENE DONOHUE, SAYING: "I think some of his answers are still vague, he represents an unknown which we would be taking a chance on if he were to become president." One thing he has been clear about though is a plan to cut corporation tax From 35 percent to 15 percent - as a way to stop big companies keeping profits offshore. SOUNDBITE (English) JEREMY BATSTONE-CARR, INDEPENDENT MARKET ANALYST, SAYING: "A cut in corporation tax might very well see some of these pools of cash repatriated. It might have an impact on global M&A activity. And yet on the other side of the equation, it could conceivably be regarded as pretty positive for the health of the US economy, which despite all efforts continues to struggle to generate escape velocity." The same could be said of Trump too, after last night. All the effort, but many think, there'll be no reward.