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MG's Jim LEAVISS and Randeep SOMEL react on the first results of the US election.
Markets got what they really did not want
Jim LEAVISS, CIO of public fixed income at MG Investments:
"We are still awaiting the result but the most important thing for markets this morning is that there is certainly no blue wave. From what we can see, it is most likely the Democrats will take the House of Representatives, but are extremely unlikely to take the Senate.
Markets got what they really didn't want with a lot of uncertainty this morning. For bond markets, no blue wave means no hugely redistributive fiscal policy, no infrastructure boom, even if Biden gets elected....
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