Name: 早期の結果に対する市場の反応 (How markets are reacting to early results)
Uploaded: 2021-01-14T11:24:13.000Z
Duration: 2 min 55 s
Description: VoiceTubeの動画で発音を聞きながら英語表現を覚えよう！学べる英語：

It was a wild night in America on Tuesday

with big swings in the vote tallies in big states.

The atmosphere of excitement and uncertainty

is captured nicely in the roller coaster in Nasdaq index futures

with both candidates seeing a path to election

The outcome is going to depend on absentee ballots cast

in just a few swing states, such as Pennsylvania.

But just because the presidency still hangs in the balance

it does not mean that we have not learned anything at all.

One thing is becoming increasingly clear.

The Democrats' hopes of adding to their majority in the House

of Representatives and flipping the Senate

This means that the most popular market narrative leading up

to this election is not going to play out.

This was the so-called 'blue wave' reflation trade.

With Democratic control of all three branches of government

there would be huge fiscal spending, higher inflation,

higher interest rates, and finally higher stocks.

But despite the 'blue wave' scenario not playing out,

Was the reflation trade narrative just a convenient

If you look at 10-year Treasury yields on Wednesday morning,

they did fall just as the failure of the 'blue wave'

scenario would have predicted beforehand.

As a result, cyclical stocks and most prominently banks,

the most cyclical of all, are getting hammered,

which is exactly what the failure of the 'blue wave'

So why then is the market as a whole doing so well?

Well, look at who is leading the market up.

It's technology and specifically the biggest tech stocks.

are leading the market, which is a return to the status

And given a very mixed election result, what else would you

Some days, even when the world is going mad,

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早期の結果に対する市場の反応 (How markets are reacting to early results)

scenario

majority

determine

flip