Bush Lead Slips in IEM

Traders in political futures in electronic markets are still betting big that President Bush will be re-elected, but his lead slipped Friday following his debate with Democratic challenger John Kerry. On the Iowa Electronic Market at the University of Iowa, two Bush winner-takes-all contracts slipped to 62 on Friday from 68.4 a day earlier. The two Kerry contracts rallied to 38 from 32.5. On Tuesday, Bush contracts were selling for 70. "Trading volume was extremely high over the last few days, indicating that traders see the debates as providing new information about the candidates," said JOYCE BERG, the Iowa market's co-director and associate professor of accounting at the university.

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