INVESTMENT FOCUS-Bond-heavy overseas funds want Obama win
Overseas investors, many of whom are creditors to the highly-indebted U.S. government, reckon a re-election of President Barack Obama would be best for world markets even if U.S. counterparts say otherwise.
For the second month in a row, Reuters’ monthly survey of top fund managers around the world was evenly split when asked whether a win for incumbent Democrat Obama or Republican hopeful Mitt Romney in the Nov. 6 presidential poll would be good for global markets.
The split was clearly dependant on whether the asset manager was based in the United States or not. Domestic funds, by and large, tend to favour Romney; overseas investors Obama.
Given the outside perception of the contest in Europe at least, where surveys by pollster YouGov on Wednesday showed fewer than 10 percent of Europeans would vote for Romney if given the choice, that may not be terribly surprising. (Full Story)
But that shouldn’t necessarily explain why supposedly hard- nosed money managers would think an Obama re-election would be better for their portfolios.
So is there a something other that regional political sensibilities behind the difference of investor views?
To read the whole story on reuters.com