The Day at a Glance | November 3 2020

The Top

· Election day in the US.

· Bank of England could announce greater monetary stimulus this week.

Economic environment

American citizens will decide their political future as presidential and congressional races come to an end today. Close to 100 million voters have opted for voting early (either by mail or in special voting booths), which represents close to 40% of the electoral roll and 72.3% of total votes in 2016. A record number of votes is expected in a race in which, according to the latest polls, results could be close in key swing states such as Arizona, Florida, Michigan, North Carolina, Pennsylvania and Wisconsin. Voting booths will start to close starting at 5pm (Mexico) in some central states and voting will come to a stop at 11pm in the entire country, with exit polls and first counts expected to be made known by midnight. It`s unclear that a definitive winner will exist tonight as many states can`t start counting early votes or the ones done by mail until election day. National polls suggest that democratic voters have preferred voting by mail compared to republican voters, which is why seeing changes while votes are counted may not be surprising. In some states, counting votes done by mail has already been done and results could be made public quickly, but in other states, such as Pennsylvania, Michigan and Wisconsin, counting votes could take days. If a victory occurs with a tight margin, we will have to wait days for definitive results. The Senate`s results will also be important, where 35 seats are at stake and will define if the elected President will be able to count on enough legislative support to advance his agenda.