Download Report

The presidential race is still competitive. While a Trump win would matter for US foreign policy, control of the Senate is key for US fiscal policy. Democrats are unlikely to win single-party control: Congressional gridlock is the best outcome for equities. The Republican sweep will bring about protectionist trade policy and pro-growth domestic policies. Republican platform includes tariffs, deregulation, tax cuts, and immigration curbs which will be inflationary over a strategic investment horizon.