Who wins the mid-terms and does it matter?

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See the attached presentation from Deutsche.

For what it is worth, I think a full gridlock is more likely to continue the bear market rally than otherwise but don’t see it as material either way for my 2023 outlook.

As for democracy, Trump’s loons are more than a little bit scary this time around.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.