Summary
US midterm elections: fiscal gridlock on the horizon?
US midterm elections will determine control of the House of Representatives and one-third of the Senate. All 435 House seats are up for election, along with 33 regular Senate seats. At present, Republicans control both chambers: the House stands at 220 Republicans to 215 Democrats, while the Senate stands at 53 Republicans, 45 Democrats, and 2 independents who caucus with Democrats. The chamber most likely to flip is the House, given the narrow margin, while the Senate is harder to change because only one-third of seats are contested at a time.
US midterm elections: fiscal gridlock on...
Will markets remain resilient with yields above 5%?
Ten-year Treasury yields moved above 5% on 15 September, just ahead of the Fed hike, and have stayed there, reaching 5.3% on 5 October. That is the highest level in almost 25 years. Yet equity markets have remained resilient, with the S&P 500 and the Nasdaq setting new highs. So, the key question is not just where yields go next, but what is driving them and how they will impact markets.
Will markets remain resilient with yields...
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