This US presidential election has been described as the most important since 1932, when Franklin Delano Roosevelt won the White House. In terms of its significance for the future direction of the US and its role in the world it is hard to disagree.

But in terms of its probable impact on the world of finance? Not so much. Even if it is a landslide, Wall Street is betting that a Joe Biden victory is likely to have a less sweeping impact than Donald Trump’s triumph four years ago.