PremiumPump And Dump: Goldman Finds Gas Prices Steering The Midterms As Markets Price A 65% Democratic Sweep... Which History Says Is Too High
Whatever Trump says or promises headed into the midterms, only one thing actually matters right now: these absurd gas prices we're all paying so Iran doesn't nuke San Diego (apparently).
At least that's how we read the latest update from Goldman's Washington Politics team. Alec Phillips and Abhay Duggirala write the bank's "US Election Monitor: October 8 Update" (available to pro subs) - who note that bad things are afoot for the Republicans. On Sep 30, Phillips had Democrats leading the generic ballot by 8.5 points, with prediction markets giving them better than 90% odds of taking the House and better than 60% odds of taking the Senate (as we noted in "Trump's $200BN Korean 'Investment' Is A Gas Plant With No Customers..."). Eight days later, the numbers have moved further in the same direction: