Bank analysts are seeing President Trump’s impeachment as a much more likely scenario, reports the Financial Times. Following revelations of Donald Trump, Jr.’s meeting with Russian lawyers during the campaign last year to discuss allegedly compromising information about Hillary Clinton, Citigroup thinks political tumult could be on the horizon.
“We believe the risk of impeachment proceedings is now higher than before, even if still not our base case,” said Citigroup’s chief political analyst Tina Fordham to the FT.
The analysts added that impeachment is still highly unlikely—particularly with a Republican-controlled Congress. All the same, these new revelations have certainly changed the conversation, and the markets are now reacting.