Last week was surprising for many, and it was one of those events that resulted in either the most happy people or the most sad people, depending on which side they were on. The crucial outcome was that Trump and the Republican Party had a landslide win. Not only did they win all swing states but the Senate, too. And going for the treble with a House win is within the reach.
This makes an important statement that, in the coming couple of years until mid-term elections, the road for legislative changes will be smooth, even the harshest. It is a big change compared to his first term when it was a divided situation.
From the financial market perspective, certain assets' reactions were much more excited than others. The S&P 500 reached 6000 with an almost 5% rise within the week. The dollar index also saw further upside, leading to a 4% rise since the October low.
In addition to this, the major upside was witnessed in cryptocurrency where Bitcoin itself rose by 17% within the week. There are some reports of a $2.9 Billion bet on it crossing $90,000 soon.
These are surely positive but also the first reactions, it has more of a short covering and profit booking indications going by the data. Stakeholders must assess both sides in the coming as the uncertainty to make elements remains high.
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