Wall St. betting on Biden win, GOP-controlled Senate, divided government and smaller stimulus

Wall Street is betting on Joe Biden winning the presidency, the Republicans controlling Congress, and a divided government. As a result, there’ll be a much smaller stimulus package in early 2021 and few, if any, tax hikes.“Gridlock is the most likely outcome,” Brian Gardner, chief policy analyst for the Wall Street investment bank Keefe Bruyette and Woods, told clients in a report.“Progressives had their wings clipped” as the Democrats failed to take the Senate and lost seats in the House. Bad feeling between leftist Democrats and conservative Republicans “will likely prevent widespread collab…

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HEDGE accordingly