There has been a relative correlation with recessionary activity and lameduck presidencies, but I think this is largely coincidence. The world market as of now

There has been a relative correlation with recessionary activity and lameduck presidencies, but I think this is largely coincidence. The world market as of now is largely trading on China and Europe's new, not the U.S.'s. Of course that could shift with a Fed rate hike in September, but 25 basis points on a move as I said would probably just cause a minor taper tantrum and not really be part of the bubbling undercurrent.