If you haven’t heard Joe Biden is president-elect of the United States of America, you should probably stop reading now. The market had priced in several predictions for the US elections of 2020. We all know the polls were not as accurate as projected but, as usual, the devil is in the details. The Senate and House election outcomes have caused the major moves in the market thus far, not so much the presidential election. And don’t worry, we will obviously get into the Covid vaccine’s effects on the market, too.
First and foremost, the Senate and House election surprises. What this means in market speak is the unwinding of the “blue wave” bet.…