U.S. President Joe Biden's first 100 days in office have left an imprint on financial markets, as stocks extended last year's gains, the dollar stagnated and bond yields rose.
President Joe Biden addresses a joint session of Congress in Washington, U.S., April 28, 2021. Melina Mara/Pool via REUTERS
Counting the benchmark stock index's advance from election day to Biden's 100th day in office, the index has risen about 25%, making for "the greatest post-election equity gains of any incoming president in at least 75 years," according to analysts at J.P. Morgan. While stocks soared on growing investor appetite for risk, the safe haven dollar languished. The greenback is on pace for a gain of 0.1% gain against a basket of six major currencies , the smallest change ever in the first 100 days for any president over the last four decades.