Many on Wall Street seem scared of the man likely to be their next mayor.
They're worried that the "populist" Bill de Blasio—who has a near 45-point lead over pro-business Republican Joe Lhota going into Tuesday's New York election—will raise their taxes and turn a deaf ear to their concerns.
But some observers say the unease over Democrat de Blasio is more than a bit inflated.
"The fear that he's going to turn against Wall Street is overblown," said Nick Colas, chief strategist at ConvergEx, a brokerage and investment research firm based in NYC.
"You can understand where the fear comes from after having a mayor that's understood Wall Street for years," Colas said, referring to Mayor Michael Bloomberg. "But I put this down to fear of the unknown more than anything else."
De Blasio has ridden an undercurrent of populist anger against some business interests, especially the real estate industry. De Blasio the candidate has harnessed that sentiment by using get-tough language toward Wall Street and talking up higher taxes for the city's wealthiest. But some observers doubt that de Blasio the mayor would really seek to alienate an industry that's critical to the city's economic health.
"De Blasio will do his best to keep his campaign promises, but that doesn't mean it comes at the expense of Wall Street," said Christiana Geer, a professor of American politics at Fordham University. "There are so many ways he can work with Wall Street to keep them happy."