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2026-11-04 18:30:26
[UBS: Midterm Election Results Unlikely to Determine Market Direction; Fundamentals Remain Dominant] ⑴ UBS states that the outcome of the US midterm elections is unlikely to determine the direction of the stock market, bond market, or dollar; economic fundamentals remain more important. ⑵ UBS expects the change in congressional control to increase scrutiny of the Trump administration and complicate fiscal negotiations, potentially triggering volatility around the 2027 debt ceiling. ⑶ UBS believes that a narrow majority and presidential veto power will limit broad policy changes. ⑷ UBS states that corporate earnings, economic growth, inflation, and interest rates should remain the main drivers of the market, and expects US Treasury yields to decline slightly over the next 12 months.
