Too Close To Call
With 64 days until the U.S. election, the race for the White House remains too close to call as the likelihood of a Republican victory remains slightly above 50%.
In terms of the markets, the election is unlikely to have a significant impact on monetary policy and asset prices in the near term as the Federal Reserve is likely to continue asset purchases regardless of the winner.
While the debate over fiscal stimulus is likely to remain at a stalemate, a Democrat victory in the House, Senate, and White House could lead to additional stimulus as well as tax reform.
Even as national polls favor the Democrats, state-by-state polls paint a slightly different picture, and the outcome the election is anything but settled at this point.