Donald Trump has been elected President again. TV networks called the race at around 5:30 a.m. Eastern Standard Time, and the AP called the race shortly after. A win in Wisconsin put him over the 270 electoral college vote threshold. The market is responding how we would have expected in the event of a Republican sweep—U.S. large-cap stocks, small-cap stock, and bond yields are all sharply higher. S&P 500 futures are up another +2.3% on top of yesterday’s +1.1% gain. Yesterday, all 11 sectors were higher, and breadth was the best since August (87% of constituents finished higher). Small-cap stock futures are up ... (full story)