{"id":164047,"date":"2020-01-29T09:00:36","date_gmt":"2020-01-29T14:00:36","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=164047"},"modified":"2020-01-29T06:56:35","modified_gmt":"2020-01-29T11:56:35","slug":"markets-will-be-rattled-if-witnesses-called-for-trump-impeachment-trial","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/01\/markets-will-be-rattled-if-witnesses-called-for-trump-impeachment-trial\/","title":{"rendered":"Markets will be rattled if witnesses called for Trump impeachment trial"},"content":{"rendered":"
January 29, 2020<\/div>
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By George Prior<\/strong><\/p>\n

Calling witnesses \u2013 including former national security adviser John Bolton – to President Trump\u2019s impeachment trial is likely to cause short-term volatility in financial markets.<\/p>\n

This is the warning from Tom Elliott, International Investment Strategist at deVere Group, one of the world\u2019s largest independent financial advisory and services organizations.<\/p>\n

It comes as the impeachment trial reaches a critical stage, with seemingly growing support to have witnesses called to the Senate.<\/p>\n

Mr Elliott comments: \u201cIt was assumed that Trump\u2019s impeachment trial would be done and dusted this week.<\/p>\n

\u201cHowever, in light of revelations from former national security adviser John Bolton\u2019s draft book manuscript that Trump confirmed to him U.S. security support to Ukraine was based on the condition of investigations into political opponents, the conclusion and timings are now less certain due to the increasing calls for witnesses.<\/p>

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\u201cAt least two Republican senators are indicating that they are in favor of wanting to hear from witnesses, including Bolton.\u201d<\/p>\n

He continues: \u201cFinancial markets don\u2019t want a drawn-out impeachment trial. They want certainty, especially as investors are already nervous because of the Coronavirus outbreak.<\/p>\n

\u201cSome sectors are more at risk of a longer\u00a0impeachment trial – and damage to President Trump – than others.<\/p>\n

\u201cSectors that would suffer from regulation by Democrats, notably pharma, energy and banks want him to win again.”<\/p>\n

Mr Elliott concludes: \u201cFour Republican senators need to agree to call Bolton.<\/p>\n

\u201cIf they do, they are likely to demand the Bidens – both father and son – appear also. This will make the impeachment trial much longer.\u00a0 The longer the process, the more volatility will occur in global financial markets.<\/p>\n

\u201cExpect banks, pharma and energy to lead this market volatility if Bolton is called by the Senate.\u201d<\/p>\n

About:<\/strong><\/p>\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement<\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior Calling witnesses \u2013 including former national security adviser John Bolton – to President Trump\u2019s impeachment trial is likely to cause short-term volatility in financial markets. This is the warning from Tom Elliott, International Investment Strategist at deVere Group, one of the world\u2019s largest independent financial advisory and services organizations. It comes as […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-164047","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/164047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=164047"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/164047\/revisions"}],"predecessor-version":[{"id":164048,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/164047\/revisions\/164048"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=164047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=164047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=164047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}