Polls, policy and petrol
13 November 2018
Politics dominated the global market agenda last week, with the US mid-term election front and centre. For once, things went more or less according to script. President Trump’s Republican Party retained the Senate, the upper house of the Congress, but ceded control of the House of Representatives to the Democrats. This is a recipe for political gridlock, but it seems to suit most investors as it is likely to rule out major unsettling policy changes until the 2020 elections.