Election Update – November 16, 2020
In regards to the election, we still do not have complete clarity on who will be president. However, the markets have been quite strong. We believe this is because it appears the government will be split; with the house controlled by the democrats, and senate controlled by the republicans. Generally, with a split government there is not a lot of radical changes and the market likes this. As we’ve been discussing, we don’t think the president impacts the markets (regardless of who it is) as much as people think because we believe the central banks are the primary driver of the market.