Democrats took control of the House in the midterms this morning, with both sides claiming victory. Trump said that it was a ‘tremendous result’ despite the fact that he could now be investigated for a wide range of things. He might even be forced to release his tax forms although we won’t be holding our breath.
Republicans tightened their grip on the Senate so it certainly wasn’t all bad, but at a time when America was looking increasingly divided, this has rather cemented that. One wonders what Trump has to do in order to suffer a crushing loss. Perhaps we’ll find out in the next two years.
It is relatively quiet on the US economic data schedule today, although we will no doubt continue to get responses to the results of the midterm elections. We will see mortgage applications up to 2 November 2018, while tomorrow features the Federal Reserve’s interest rate decision and initial jobless claims up to 3 November 2018.
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