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PB CIOs on US midterms: Split in Congress will not cause more short-term volatility

The midterm elections resulted in a split Congress with the Democrats taking the House of Representatives, but CIOs at private banks expected the outcome and anticipate no immediate negative effects to markets, if any at all. Split in Congress was anticipated, fiscal spending now faces headwinds According to a note from UBS’s CIO office published immediately following the results, the…

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