Still waiting on a US election winner
We discuss the three most likely potential scenarios and implications for investors. No matter the outcome, we believe the broad outlook remains generally supportive for risk assets into 2021.
Key takeaways:
- The winner of the presidential election is unknown. Tight races in Sun Belt and Midwestern states will determine the result, and a Biden win looks most likely.
- The odds of a Blue Wave are thoroughly diminished after Democrats underperformed in Senate contests. This likely reduces the size of potential fiscal stimulus, but also means taxes are unlikely to rise in the near term.
- We discuss the three most likely potential scenarios from here on out: a President Biden with a Republican Senate, status quo, and/or a contested election.
- No matter the eventual victor, or when the result is finalized, we believe the broad outlook remains generally supportive for risk assets into 2021.
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