Investors see silver-lining in U.S. election uncertainty

A definitive result on the next U.S. president may still be elusive, but two days after Election Day, investors are back in ‘buy-everything’ mode – counting on Republicans keeping control of the Senate and limiting regulatory change as well as on full central bank support. Equities spurted ahead with the S&P 500 up 4.2% since the close on Tuesday and about 2% below a record high close, while the Nasdaq is just 1.4% off its record. “There is ample room for a 10% further rally assuming bond yields and earnings prospects remain where they are,” Michael Purves, chief executive of Tallbacken Capital Advisors, said in an email.

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