Market Commentary – US Elections: How the outcome will affect the capital markets

On November 5, the presidential and congressional elections will take place in the US. In addition to electing a new president, all 435 members of the House of Representatives and 34 of the 100 senators will be up for election. The Swiss private bank Bergos has analyzed the probabilities for various election outcomes and assessed how each scenario could impact the capital markets. “A Democratic sweep, with Kamala Harris as president and a majority in both chambers of Congress, would be the worst election outcome for risk assets in our view. However, we currently consider the chances of this happening to be fairly slim,” says Till Christian Budelmann, Chief Investment Officer and member of the Executive Committee at Bergos.