Via a Goldman Sachs note to client on Wednesday, obviously it did not affect the Wall Street party-on at the end of the day:
Maybe something to file away … GS comments:
- "In a close election, it will take time to count -- and invariably recount -- all the mail-in ballots"
- Harks back to 2000 when a winner was decided only after 34 days
- Adds that the COVID-19 pandemic is also a major complication in getting votes counted
- Any delay adding to uncertainty would create greater uncertainty
- "we see heightened risk that election-related volatility could extend beyond Election Day"
