Senator Kelly Loeffler (R-GA) and Senator David Perdue (R-GA), wave during a campaign event at the Olde Blind Dog Irish Pub, in Milton, Georgia, U.S., December 21, 2020.REUTERS/Al Drago/File Photo
There has been some confusion about the catalyst behind this morning's sudden market selloff which followed promptly after the S&P hit a fresh all time high.
While there has been no single, definitive news catalyst, the answer for the risk weakness is to be found in Georgia, which goes to the polls in special run-off elections for its U.S. Senate seats.
As a reminder, if Democrats win both, then the Senate will be split 50-50, and they will control it thanks to the vice president’s casting vote.
So why is Georgia suddenly a concern?
Read more ....
Update #1: U.S. Senate control, and Biden's agenda, at stake as Georgia runoff elections loom (Reuters)
Update #2: Explainer: How investors view the Georgia U.S. Senate runoff (Reuters)
WNU Editor: The media has gone all in for the Democrat candidates .... Why Georgia Needs Two New Senators (Rolling Stone). The betting markets are predicting a Democrat sweep. The Democrat Party is boasting 100,000 new members since the November elections. The Republican Party leadership in Georgia appears to be more focused on battling President Trump than putting their energies into the Senate race
As an outsider looking in .... this does not look for Republican Senator David Perdue, and it definitely does not good for Republican Senator Kelly Loeffler. Here is an easy prediction. If the Democrats sweep both Senate seats tomorrow, the US markets are going to have a very bad week.
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