UBS On-Air: Paul Donovan Daily Audio 'Vote counts, and control'

We still do not have final US election results (why would we?). The Democrats have won the Senate, and neither party yet has a House majority. Whichever party has a majority, it is unlikely to have control - in the last Congress there were never less than four seats vacant, so control depends on who has died, who has resigned, and the outcomes of special elections. For markets this means policy stagnation.