What to expect on US election night
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 5 November 2024
⏱️ 13 minutes
🧾️ Download transcript
Summary
The dollar weakened on Monday as global markets reined in their bets on a victory for Donald Trump in the US presidential election, and the Financial Times’ James Politi explains what to look out for as results trickle in. Plus, Spain’s prime minister is facing political backlash over the country’s historic flooding and the Nigeria-based fintech Moniepoint has gained “unicorn” status.
Mentioned in this podcast:
Dollar weakens as investors rein in bets on Trump victory
Spain’s political leaders turn on each other over flood catastrophe
US election 2024: a comprehensive guide to the presidential race
Nigeria-based fintech Moniepoint gains ‘unicorn’ status
Credit: AFP
The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinoor, the UK's energy partner. |
| 0:06.5 | Learn more at equinore.com.uk. |
| 0:13.7 | Good morning from the Financial Times. |
| 0:16.5 | Today is Tuesday, November 5th, and this is your FT News Briefing. |
| 0:27.8 | It is election day in theth, and this is your FT News Briefing. It is Election Day in the U.S., the FTs James Politi unpacks what to expect tonight. And the dollar fell yesterday as investors scaled back their bets on a Donald Trump victory. |
| 0:34.6 | Plus, can Nigeria's latest unicorn startup work some magic on Africa's struggling tech sector? |
| 0:41.9 | What we are saying now is what many people hope is green shoots of recovery. |
| 0:47.4 | I'm Sonia Hudson, and here's the news you need to start your day. |
| 1:01.8 | Thank you. to start your day. Investors reigned in their bets yesterday on Donald Trump winning the U.S. presidential election. |
| 1:08.1 | The dollar weakened and yields on U.S. Treasuries fell. This came after an |
| 1:13.2 | important poll in the state of Iowa showed Kamala Harris in the lead there, which is a big deal, |
| 1:19.0 | given that Trump won Iowa by more than eight points in 2020. Investors think that if Trump wins |
| 1:25.7 | and institutes huge tariffs and tax cuts, then inflation will rise. |
| 1:30.9 | That would mean the Federal Reserve might cut interest rates at a slower pace. |
| 1:36.0 | And typically, higher interest rates lead to a stronger dollar. |
| 1:39.8 | Up until this point, bets on a Trump victory had helped boost the dollar to its biggest |
| 1:45.1 | monthly gain in two years. |
| 1:53.5 | There is a lot of uncertainty going into Election Day today, and it's not just from the markets. |
| 1:59.7 | What we do know is that just |
| 2:01.9 | seven battleground states are expected to determine the outcome. We don't know who will win |
| 2:07.7 | or even when we might get the result. So here to explain what you should be looking out for |
| 2:13.4 | on election night is the FTs Washington Bureau Chief James Politi. Hi, James. Hi, Sonia. Good to be with you. |
... |
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