Nov 11, 2019

The markets would like Mike

Dion Rabouin, author of Markets

Photo: Ole Jensen/Getty Images

Former New York Mayor Michael Bloomberg dipped his toe into the 2020 election water last week, and some investors are already salivating.

What it means: Analysts at investment bank Cowen and Co. argue in a recent whitepaper that Bloomberg's policies would provide the market a big boost, even though they argue the billionaire is "unlikely to substantially ease regulatory policies" and " is actually likely to toughen some capital and consumer protection rules."

The big picture: Fed Chair Jerome Powell's term expires in early 2021, and a new president is likely to replace him.

  • "Our expectation is that Bloomberg would replace Jerome Powell with a center-left economist similar to Janet Yellen," analysts said in the paper.

Bloomberg also would be expected to "open the door for infrastructure legislation and other policies that would spur the economy and thus benefit housing and the banks."

The intrigue: While wide-ranging deregulation is not expected, Bloomberg has previously criticized some aspects of the Dodd-Frank financial reform law as too complex and complicated and "argued instead for recruiting people from inside regulated industries to craft rules" for them.

By the numbers: A new poll from Morning Consult/Politico shows Bloomberg leads President Trump by 6 percentage points in a hypothetical 2020 matchup, with 43% of likely voters saying they would back Bloomberg to Trump's 37% if the election were held today.

  • However, 21% of those polled said they don’t know or don’t have an opinion.
  • And Bloomberg is currently in sixth place, with just 4% of Democratic primary voters.

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The latest: George Floyd protests nationwide

Police officers wearing riot gear push back demonstrators outside of the White House on Monday. Photo: Jose Luis Magana/AFP via Getty Images

Protests over the death of George Floyd and other police-related killings of black people continued for a seventh day across the U.S., with President Trump threatening on Monday to deploy the military if the unrest continues.

The latest: Washington, D.C., Mayor Muriel Bowser criticized federal police in a tweet Monday night for using munitions earlier in the day "on peaceful protestors in front of the White House, an act that will make the job of (DC Police Department) officers more difficult." "Shameful!" she added as she urged residents to go home and stay safe.

3 hours ago - World

The world watches America burn

Newspaper front pages via the Newseum

The world is watching the grief and anger, violence and pain in America's streets.

The big picture: The U.S. accounts for nearly one-third of the world's deaths from COVID-19. The killing of a black man, George Floyd, by police has sparked days of protest and nights of chaos in America's major cities.

Trump walks to historic St. John's Church outside White House as protests rage

President Trump walked to the historic St. John’s Episcopal Church, located just steps away from the White House across Lafayette Park, on Monday night as protests linked to the murder of George Floyd raged across the capital and cities around the country.

What we're seeing: Military police and park rangers used physical force and tear gas on peaceful protestors to clear the area so that Trump could "pay respects" to the church that was damaged by a fire on Sunday.