US: Markets not focused on Super Tuesday

Markets are not going to pay much attention to the Tuesday results. The nomination is five months away and the Coronavirus has the full attention of traders everywhere. Joseph Trevisani, an analyst at FXStreet, explains what’s going on ahead of the Super Tuesday. 

Key quotes

“Sanders has argued that whoever receives the most delegates through the primaries, even if short of the 1,991 majority, should get the nomination.”

“Congressional Democrats and the party professionals who make up the 771 super delegates will likely insist that the rules installed to answer Sander’s own complaints about bias against him in 2016, restricting super delegate voting to the second ballot, should be followed.”  

“The issue for the professionals is that if the super delegates are used to take the nomination from Sanders, his supporters might choose to stay home in large numbers.  A contested convention with the guaranteed public disputes will also play badly in the House and Senate swing districts particularly where new Democratic incumbents are facing strong opposition from Republicans.”  

“It is going to be a long road for the Democrats to the nomination.