The U.S. presidential election is unlikely to be a major risk for financial markets as Congress is likely to put a brake on many policies, whoever wins, the fixed income chief investment officer of JPMorgan Asset Management said on Wednesday. Bob Michele said the world’s fifth largest asset manager increased exposure to inflation-linked bonds (TIPS) and emerging market debt in the last few weeks, expecting moderate growth and solid oil prices to lift inflation and support emerging market currencies. Global financial markets were roiled by signs the U.S. presidential election race was tightening just days ahead of the Nov. 8 vote, with a possible victory for Republican presidential candidate Donald Trump seen as boosting uncertainty on U.S. foreign, economic and trade policies.
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