Donald Trump and his Democratic opposition Joe Biden clashed yesterday in the first televised debate of the US Presidential elections. Despite drawing a huge amount of attention, with Trump desperately seeking re-election, the event has largely been described as a mess given the chaotic and volatile nature.

Trump Tactics Back on Display

From the outset Trump was relentless in his attempts to interrupt his opponent and move outside of the agreed structure of the debate. Trump’s refusal to contain himself while Biden was speaking and his eagerness to launch into hard-to-follow rants left both Biden and the debate moderator Chris Wallace (Fox News) overwhelmed at times with Biden saying at one point “ I can’t remember everything he was ranting about” to which Wallace replied “ I’m having trouble myself”.

Given the severity and ongoing nature of the key issues which have dominated US politics this year (COVID-19, Racial equality protests), the US electorate was hoping to finally get some real insight into the perspectives held on these matters by the two presidential candidates though, sadly, the debate did little other than highlight the schoolyard style of the President.

Lack of Answers on Policy Questions

When pressed on key policy items, such as his plans on replacing Obamacare, Trump merely said he wanted to scrap the plan but offered no insights into what an alternative would look like. Another moment in the debate where Trump was keen to skirt around the question asked was in his refusal to renounce white supremacist groups with the president merely telling one such group, the “Proud Boys” to “stand back and stand by”.

Biden Calls Trump a Clown

Away from his refusal to answer questions Trump was also seen constantly interrupting Biden and hassling him in an attempt to confuse and disorientate his opponent. For the most part Biden was able to withstand the pressure though at times conceded, telling the president to “shut up” and calling him a “clown”.

Trump Swipes At Biden's Son

Another classic Trump move on display last night was his strategy of taking things to a personal level. The president was very keen to steer the conversation towards Biden’s son Hunter who was discharged from the navy and suffered cocaine addiction though Biden was able to keep his cool here, replying “My son, like a lot of people … had a drug problem. He’s overtaken it. He’s fixed it. He’s worked on it. And I’m proud of him.”

Polls Favour Biden

In terms of the outcome of the debate, the initial polling suggests that Biden took a minor lead. CBS News and YouGov, who are tracking voters in swing states, said that initial polling following the debate gave Biden 48%, Trump 41% and 10% in favour of a tie. CNN meanwhile reported that 60% of those responding to its instant poll thought Biden won.

Little Market Impact

Ultimately, given the messy nature of the debate and the lack of real discussion on key topics, it is unlikely to have any long term affect on the elections and voters will now be eager to see if the next debate will take a more structure and meaningful path or continue down this unproductive route which has been criticised widely. There was negligible market impact from the event as traders continue to focus on the backdrop of growing concerns around a second wave of COVID and attempting to gauge the response measures coming.

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