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Good morning, Bull Sheeters. All eyes are on Georgia. And that’s putting investors in a risk-off mood.
At 2 a.m. Atlanta time, Democrat Raphael Warnock was called as the winner of one of the two Georgia Senate seats up for grabs, and that sent Treasury yields and Chinese stocks soaring. Meanwhile, the dollar and tech-stock futures fell, and they continue to sink. The Ossoff-Perdue race is still too close to call, but the markets there too are pricing in a blue sweep. I explain the implications below.
But first, let’s check in on what’s moving the markets.
- The major Asia indexes are mixed in afternoon trading with the Shanghai Composite up 0.6%.
- President Trump signed an executive order establishing a