Debate Decision

Financial markets quickly rendered their decision on the first Clinton-Trump debate. The Mexican peso, a very oversimplified yet popular election risk proxy and barometer of election fortunes, soared as markets now assume no wall will built, NAFTA will not be renegotiated and millions of illegals are unlikely to be sent packing. In addition, gold, a safe haven play, weakened, along with for-profit prisons which Clinton dislikes. Interestingly, pharmaceuticals were steady.