Wall Street starts preparing for a Biden victory

Your guide to how Washington shapes business and the economy

VIEW IN BROWSER | SUBSCRIBE FRI, JUN 26, 2020 CNBC POLITICS EDITOR'S NOTE Hello,   Joe Biden has opened up a substantial lead in national and swing-state polls over President Trump. It's only June. Yet as Trump slumps and the coronavirus crisis continues, Wall Street is beginning to prepare for a Biden presidency.   CNBC's Brian Schwartz talked to several sources about how finance executives have changed their thinking since it once looked like, to them, that a strong economy would carry Trump into a second term. Read more about it here.   Here are some stories the CNBC Politics team has been following: CNBC's Christina Wilkie profiled Democratic rising star Rep. Val Demings, one of the apparent frontrunners to become Biden's running mate.  The House passed the Democrats' sweeping police reform bill after the Senate GOP's bill failed to overcome a procedural hurdle. The Trump administration is taking its fight against Obamacare to the Supreme Court. A new anti-Trump super PAC aims to automate supporters' donations every time the president tweets. You can find more coverage linked below. Thoughts? Email Mike Calia at CNBCPolitics@nbcuni.com.     Have friends or colleagues who might like this newsletter? They can sign up here.  Mike Calia @Michael_Calia KEY STORIES  Wall Street executives brace for a potential Biden win as Trump fades in polls Various current and former Wall Street financiers, analysts, lobbyists, lawyers and political advisors with banking clients spoke to CNBC about how the industry is bracing for a possible Biden win. Coronavirus mortgage bailouts suddenly swell as homeowners face new struggles After declining for three weeks, the number of borrowers delaying their monthly mortgage payments due to the coronavirus rose sharply. Biden says Trump push to dismantle Obamacare would worsen coronavirus response Biden is tying Trump's effort to scrap Obamacare to the coronavirus, saying that the law's dismantling would make the pandemic response worse. How Rep. Val Demings could help Joe Biden 'meet the moment' as his vice presidential pick As a Black former police chief, Demings has uncommon insight into the most important national debates of the 2020 election. But her greatest strength is also her greatest weakness. House passes Democratic police reform bill after GOP plan stalls in the Senate The House passed its police reform legislation a day after Democrats blocked a Senate Republican bill they called inadequate. The fate of the market comeback in the second half may be determined by Congress The next headwind for Wall Street could come straight from Washington, as Congress moves toward its next fiscal package to help the economy recover. Judge rejects Trump family attempt to block publication of niece Mary Trump's tell-all book A New York judge rejected an effort by President Donald Trump's brother to halt the publication of a book by the president's niece, Mary Trump. Elizabeth Warren demands answers from private equity industry on coronavirus response, lobbying Warren's letter comes as the coronavirus recession has brought the role of private equity in the economy back into the spotlight. Trump attacks Black Lives Matter movement Trump seized on a quote by a man who runs a Black Lives Matter knock-off group and a chant that is not popular with protesters to imply that Black Lives Matter poses a threat. Democratic activists, tech execs plan to launch super PAC that will use Trump's own tweets against him The PAC, Defeat by Tweet, is planning a site that will allow donors to give reoccurring contributions to the organization every time Trump tweets.       Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS