DBS’s CIO, Hou Wey Fook, believes the removal of election overhang will bode well for risk assets overall. “The midterm election result is, on balance, positive for financial markets. The S&P 500 Index rallied 2.12% overnight, while the US high-yield bond spread also tightened by 9 bps,” Hou said. “Heightened political gridlock will weigh on fiscal stimulus in the US,…

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