Financial advisory firm Signum tells clients Senate will flip to Democrats as Biden surges past Trum

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Brian Schwartz

KEY POINTS

Financial advisory firm Signum Global Advisors is telling clients that it now believes the U.S. Senate is going to flip blue as Joe Biden continues to surge past President Donald Trump in the polls.

In a note to clients, Signum said that while it was initially convinced Republicans would maintain control of the upper chamber, the firm has changed its mind and now thinks Democrats are going to take the Senate.

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The firm has a massive policy and research arm, with its leaders all having experience that ranges from working on Wall Street to government posts in Washington.

Signum’s flip suggests that firms on Wall Street and in the financial industry could start preparing for the end of Republican control, both in the White House and Senate. Democrats currently hold a majority in the House of Representatives.

Signum says its new prediction is based on current Senate and presidential polling, as well as historical trends. Biden is ahead in most national polls, with a Real Clear Politics polling average showing Trump down by 10 points.

The firm believes Sen. Doug Jones, D-Ala., will lose his Senate seat, but it is convinced Democrats can pick up the seats necessary to take control in the toss-up states of Arizona, Colorado and Maine, where vulnerable GOP incumbents are facing Democratic challengers. Then there are at least six other Senate races Signum argues are within reach for Democrats, including in Montana and North Carolina.

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https://www.cnbc.com/2020/06/23/wall-street-firm-tells-clients-senate-will-flip-to-democrats-as-biden-surges.html