Traders and quants spend an awful lot of time and money trying to spot financial bubbles. When the prices of many assets are dizzyingly high, as they are now, predicting a correction isn’t hard. Much trickier is knowing when it will come.
And this week millions of Americans are voting in “off-cycle” elections. New York’s mayoral race and a proposal in California to redraw congressional districts will make the biggest headlines. But the most telling results will come from gubernatorial elections in New Jersey and Virginia. Polling shows voters’ patience with Donald Trump has worn thin. This week will show whether Democrats can exploit the president’s unpopularity.
