US mid-term elections will be in the spotlight next week, and the Democrats are likely to lose control of Congress. Although political disagreements may grab the headlines, it’s the Fed’s outlook that matters most to marketsaccording to Nordea economists.
It’s still about the Fed
“Although the results of the midterm elections will be closely watched next week, the Fed’s outlook remains a much larger and more permanent driver for financial markets compared to American politics.”
“We see more upside potential for US yields, but the risk landscape is no longer tilting towards higher returns in the same way as it was some time ago. In a state of high reliance on data by central banks, a high volatility environment is expected to continue.”
Source: Fx Street
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