Hong Kong — If the US ends up with a divided government it could mean limited fiscal stimulus, capped increases in bond yields and dampened inflation expectations, while risk assets get a boost, according to BlackRock Investment Institute.
Democrat Joe Biden won the presidency and his party retained control of the House, but appears unlikely to take control of the Senate. The prospect of a divided government has driven down yields and the environment bodes well for credit and growth companies, according to the note.
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