Capital Commerce

Wall Street Still Sees an Obama Presidency

By James Pethokoukis

Posted: April 24, 2008

Is this as good as it gets for John McCain? The latest from political analyst Alec Phillips at Goldman Sachs:

Recent polling indicates a tighter general election than many observers would have expected. This is largely because McCain has greater support in head-to-head polls against Obama than against Clinton in key swing states like Florida and Ohio. The general election may indeed be close, but it is likely that these polls will begin to change as the contest moves from a three-candidate race to a true head-to-head contest later this year.... These polls imply a close race at the moment, although Democratic performance may improve once the nomination is decided. Taking poll results for the states named above at face value and plugging in the 2004 election results into the rest, Obama would win 268 electoral votes to McCain's 270, while Clinton would win 289 to McCain's 249. Notwithstanding these implications, political prediction markets continue to imply a 60% probability that the Democratic candidate will win the election this fall.

After the vascillations (cq?) of this campaign, I have taken the Neil Cavuto approach: pundits and experts know next to nothing and their guesses are as good as their last guess. After all, these are the same people that counted out John McCain, called the NH primaries for Obama, said that Mike Huckabee was a strong contender after a one hit performance, counted out Hillary Clinton again after she lost 8 straight to Obama, and anointed Fred Thompson as the new "Reagan" for the Republican Party. Thanks for the advice, but I think I'll wait until the final vote count in November to determine who will be president.

Chris of AZ @ Apr 24, 2008 18:45:43 PM

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Capital Commerce

Capital Commerce

U.S. News business reporter Matthew Bandyk examines the issues, people, and debates that shape the nexus of political and economic life in the nation's capital.

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