Today, Americans will go to the polls in what could be an historic mid-term election.
At stake is control of the U.S. Senate and the direction of the country in the final two years of the Obama Administration. We asked our experts about the likely outcome of the election and what will be the impact on markets if control of the Senate switches hands.
What seems clear is that gridlock, while annoying to some, is just fine with the markets. The big question is what is the market expecting? If the current gridlock is bullish then would Republicans gaining control of the Senate upset the apple cart? If a GOP victory is priced into the current all-time highs, would the Democrats maintaining control cause a massive sell-off? Or with Congress hopelessly gridlocked and the current campaign being waged by big-donor super-pacs have ordinary voters tuned out?
This week we asked:
What impact will the upcoming election have on financial markets if:
Republicans take over the Senate?
Democrats retain the Senate?
Democrats make serious gains in the House?
Here is how our experts see it.