Scott Bessent, billionaire investor and founder of Key Square Capital Management Fund, joined Wednesday’s edition of The Tennessee Star Report with Michael Patrick Leahy to discuss how the stock market’s rally coincides with former President Donald Trump being ahead in the 2024 presidential election polls.
In a letter to investors, which was recently leaked to Bloomberg, Bessent’s Key Square Capital Management Fund said it believes that equity markets are “in the midst of a ‘Trump Rally’ that will last as long as he remains ahead of Biden in the polls.”
“It is likely that [Trump] would seek rejuvenation/redemption rather than revenge if elected this November. A second term would be expected to embrace Calvin Coolidge-style Roaring Twenties policies over a Herbert Hoover outcome,” the letter added.
During Wednesday’s interview with Leahy, Bessent elaborated on his hedge fund’s letter describing the “Trump Rally,” saying, “What we are saying is that the stock market is rallying because Donald Trump is ahead in the polls.”