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Continued momentum for crypto-friendly Republican presidential candidate Donald Trump might be the behind the rally over the past week, said Standard Chartered analyst Geoff Kendrick in a Tuesday note. The former president now has a 56% chance of winning in November, according to Polymarket, said Kendrick (now 56.9%). It's his highest probability of winning since Joe Biden dropped out as the Democratic candidate.
Polymarket odds for POTUS victory (Polymarket)
The odds of a GOP sweep of Congress are also on the rise, Kendrick pointed out. According to his calculations, if Trump wins the presidency, there is a 70% chance he will be dealing with a Republican-led House and Senate.
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