Investors have been increasingly on edge about the prospect of former President Donald Trump winning the election, a possibility for which Wall Street has been preparing to a greater extent. While polls remain effectively dead-even,

Across Wall Street, investors see a Trump win as increasingly likely. They’re governing their portfolios accordingly.

There’s basically been a 75-basis-point turnaround in what the market is pricing for how much the Fed is cutting,” Jersey said. “That’s why bonds have sold off.” Over recent weeks, prediction markets like Kalshi have shown steadily improving odds for a second Donald Trump presidency.