Chinese Economy Shows a Pulse

China’s services PMI jumps, boosting Asian equities in the process

Highlights

• China’s services PMI jumps, boosting Asian equities in the process

• Breaking down winners and losers based on election outcomes

• Volatility and risk-off trade to dominate in the event of a lack of immediate winner

• Consensus narrative of a strong U.S. economy remains off base

Key Takeaways

Election Polls: A Dead Heat, but the Electoral College Matters

• The final election poll shows a dead heat — 49% support for both candidates. What matters, however, is who wins the electoral college. 

Expect Delays in Election Results

• Don’t think for a second we are going to bed tonight knowing who won the election. Just consider in the hotly contested election in 2000, it took a full month and the decision ultimately was in the Supreme Court’s hands. In the last election, it took four days before Joe Biden was declared the victor.