We’ve recorded this on the day of the US Presidential Election, and that’s what we're focusing on today.

There are 7 big things you need to know: They focus on the set-up, the historical playbook, bottom-up policy implications per our analyst survey, our thoughts on positioning trades, one tailwind that will manifest regardless of what happens, tail risks, and our rundown of what we’ll be watching on election night and possibly the days beyond.

Three big things you need to know: First, the early S&P 500 stats are now pointing to a mildly disappointing 3Q24 reporting season so far. Second, a mixed backdrop, the need to wait a bit longer for interest rate relief, and the need to get through the election were key themes in last week’s earnings calls. Third, the US election has been in focus in our recent meetings with US-based long-only investors, who we encourage to be ready for all outcomes.

Three big things you need to know today: First, the early earnings stats are mixed for the broader market but promising for the rotation trade. Second, company commentary continues to suggest the plumbing of the economy is in good shape, with a few clogs. Third, our examination of index, sector and industry performance and trends in polling and betting market averages suggest to us that several traditional Trump trades (specifically, Small Caps, Energy, Financials) have remained intact.