Shares open higher; Magnificent Seven earnings ramp up; Adore Beauty names Sacha Laing as chief executive; Fletcher expects $NZ30m to earnings; Kogan sees ‘positive trend’ in sales. Follow here for more.
New York | The biggest risk in this year’s US presidential race is that neither candidate is a fiscal hawk who will rein in the deficit and prevent a sovereign debt crisis, says one of the most high-profile Australians on Wall Street, Matthew McLennan.
“Last year the US was running a very large deficit at the peak of the cycle, and neither presidential candidate was likely to be a fiscal hawk, and I think we’re still in a similar situation today in the United States,” Mr McLennan said. “In the absence of the political infrastructure and dealing with the problem, it sometimes takes a market crisis to force an adjustment,” he said.
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