Cathay Pacific Haitong released a research report stating that the US midterm elections are imminent. We expect that the probability of “dividing the government” after the midterm elections is extremely high, then US fiscal expansion may subside, the risk of a government shutdown will increase, and friction in fields such as science and technology geopolitics and human rights may intensify. Judging from comprehensive logical deductions and historical reviews, dividing the government favors US debt, US stocks, technology, and the US dollar.

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