Wall Street banking on Obama victory!

[MattT]

"Given Obama's advance in the poll, it's pretty clear who's going to be president," said Owen Fitzpatrick of Deutsche Bank.

Most people expect that a Democratic victory is incorporated into the market's dynamics already, according to Mace Blicksilver, director of Marblehead Asset Management.

On Intrade.com, a trading exchange website where members can speculate on each candidate's chances, Obama is the clear favorite, holding a winning margin of 84.5 percent.

Intrade finds Republican John McCain with a 16.6 percent margin, down from over 50 percent in September.

For their part, economists at IHS Global Insight calculate the Democratic candidate has a 53.1 percent chance of victory compared to McCain's 46.9 percent, an outcome they deem "not surprising" due to the ongoing economic crisis.


http://economictimes.indiatimes.com/Global_Markets/Wall_Street_banking_on_Obama_victory_ready_also_for_McCain/articleshow/3661577.cms