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Market Headwinds if Liberals Win 2010 Elections: Strategist

British Prime Minister Gordon Brown said he was dissolving Parliament and set a May 6 date for national elections. How does this news translate for the U.S.? Jeffrey Saut, chief investment strategist at Raymond James, shared his views on transatlantic politics and potential market impact.

“The upcoming mid-term elections in November is going to be an agenda changer if the liberals continue to focus on cap-and-trade and other programs," Saut told CNBC.

"This can put a headwind in the face of the market."

Saut said programs such as cap-and-trade are job-killing initiatives.

“If you get a conservative backlash, you can get an extension of the rally,” he said.

Meanwhile, Saut said he likes the energy sector and has an “outperform” rating on Cenovus .

  • Watch Saut's Previous Appearance on CNBC (Mar. 31, 2010)

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No immediate information was available for Saut or his firm.