Blue Wave Lite washes over markets

Today's slide deck: https://bit.ly/35fXe21   -

Today we look at the market reaction to both Georgia Senate seats apparently set to fall into Democratic hands in the run-off elections there, thus putting the US Senate and therefore US Congress on side with the incoming Biden administration, if by the slimmest of margins. We run through what this means for US high-flying speculative stocks and megacaps, especially with an eye on the break higher in US long yields, the US dollar and commodities, as the reflationary trade just got a big boost with this development. Today on the call are Althea Spinozzi on fixed income, Ole Hansen on commodities, Peter Garnry on equities and John J. Hardy hosting and on FX.