US election: no winner yet, markets moving from a Blue Wave to a possible Trump trade

At the time of writing, the result remains unclear and prudence is needed as the race is close Biden 238 - Trump 213  (270 to win).We expect an 85% likelihood of knowing the winner within ten days. The winner of the election is likely to be determined sometimes during the next few days as three battleground states, Michigan, Pennsylvania (6 November: deadline for mail-in ballots to be received in Pennsylvania) and Wisconsin, complete the long process of counting large numbers of ballots that were sent by mail as a result of Covid-19. 

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