Financial markets respond enthusiastically to neopopulist electoral victories worldwide

Evidence

In the United Kingdom, during the political havoc of Brexit, chaos (as a representation of a radically uncertain post-Brexit future) was one of the words most often appearing in media headlines. Yet an unexpected coalition of Brexiteers and City financiers consistently dismissed such assertions as fear mongering and a fantasy. Indeed, despite a cautious skepticism expressed by central bankers (like the Bank of England’s Mark Carney), financial markets in the United Kingdom and around the globe seem to generally respond enthusiastically to the news of neopopulist electoral victories. — Aris Komporozos-Athanasiou, Speculative Communities, 252

In the United Kingdom, during the political havoc of Brexit, chaos (as a representation of a radically uncertain post-Brexit future) was one of the words most often appearing in media headlines. Yet an unexpected coalition of Brexiteers and City financiers consistently dismissed such assertions as fear mongering and a fantasy. Indeed, despite a cautious skepticism expressed by central bankers (like the Bank of England’s Mark Carney), financial markets in the United Kingdom and around the globe seem to generally respond enthusiastically to the news of neopopulist electoral victories. In 2019 Modi’s re-election led to a massive boom in the Nifty, India’s stock-market index. In the same year, following Bolsonaro’s election, the Bovespa, Brazil’s stock-market index, hit a string of record highs. In the United States, the Dow Jones movements have been one of Donald Trump’s favorite reference points—used as a real-time measure of his own “political success” throughout his presidency. — Aris Komporozos-Athanasiou, Speculative Communities, 252

Categorization

• ADDENDUM: Pairs with the ‘On Sacrifice’ and ‘Complaints About Immodesty’ pieces’ shared interest in how elites and supposedly anti-elite movements cooperate.
• XREF: Directly supports the reader’s central thesis that markets, not voters, are the speculative constituency behind neopopulism.
• corroborated: 2 independent passages support this claim — Aris Komporozos-Athanasiou, Speculative Communities: Living With…, 252