This election is, depending on whether you are a political junkie or a normal, sane human being, either the gift that keeps on giving or remarkably similar to the virus that has accompanied it: an annoying, stress-inducing thing that just refuses to go away. Either way, here we are on Friday morning, two and a half days after the polls closed, and the TV pundits are still trying desperately to appear excited about repeating the same comments for the umpteenth time.

From a trading perspective though, the most remarkable thing about it is how little effect it has had at this point. Those predicting a complete market collapse at any hint of a chaotic contested result were wrong, as it seems were those predicting the same should a Biden win look the most likely outcome. Stocks have spent the week climbing back towards record highs, and even oil, which the Trump campaign has told us Biden hates so much, looks like it will end the week higher…

It should really come as no surprise to anybody that the market reality doesn’t match the campaign hyperbole, it never does, but I am sure there are a lot of people who, even though they are aware of that, are surprised by crude’s strength this week. It has become increasingly obvious that there are only two possible outcomes now, a Biden win or a questionable legal challenge from Trump that would just result in chaos delaying the inevitable and raise the possibility of violent protest.

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Given…


Via Oilprice.com