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Following the news that former Vice President Joe Biden has earned enough delegates to officially secure the Democratic nomination for president and has doubled his lead over Donald Trump in Michigan, Trump has been over twitter in a rant:

If I wasn’t constantly harassed for three years by fake and illegal investigations, Russia, Russia, Russia, and the Impeachment Hoax, I’d be up by 25 points on Sleepy Joe and the Do Nothing Democrats. Very unfair, but it is what it is!!!

A CNN Poll of Polls on the general election matchup between Biden and Trump finds 51% of registered voters nationwide back Biden while 41% support Trump.

Market implications

We are seeing a big shift in Biden’s favor which has been gathering pace since April. A CNN Poll of Polls had found support for Biden averaging 48% while Trump averaged 43% support two months ago. The shift to Biden could be quite harmful to markets that have been banking on the current US administration fiscal stimulus and more of it.