US equity markets ramped into the green (even Nadaq recovered from its AAPL-beating) as the final Rasmussen Reports Generic Congressional Ballot before Election Day shows Republicans edging ahead by one point…
The latest Rasmussen Reports national telephone and online survey of Likely U.S. Voters finds that 46% would choose the Republican candidate if the elections for Congress were held today. Forty-five percent (45%) would vote for the Democrat. Three percent (3%) prefer some other candidate, and six percent (6%) remain undecided
A week ago, Democrats held a 47% to 44% lead.
Stocks are suddenly reassured…
… because as SocGen noted earlier, a “Red Wave” outcome (such as the one suggested by the GOP retaining the house), and which also happens to be “the least expected scenario for the market”, would probably trigger a short-lived strong rebound in US equities and a drop in the VIX. Whether or not this result holds into tomorrow night, of course, is another matter.
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