• MTS Economic News_20161110

    10 Nov 2016 | Economic News

 

Hillary Clinton is set to win the popular vote despite losing the presidential race

If current projections hold, Hillary Clinton will soon become the second presidential nominee to win the popular vote yet lose the electoral college – and thus the White House – in the past five US presidential elections.

Clinton, who gave a speech on Wednesday conceding to her victorious Republican opponent Donald Trump, is poised to lose the electoral college tally by a decisive 74 votes (nearly 14% of the total available) while carrying a slim majority of the overall votes cast. As of Wednesday afternoon Clinton led by more than 200,000 votes, with 47.7% to Trump’s 47.5%. It would be the fifth time in the nation’s history that such a split has occurred and may be a boon to advocates of reform of the two-century-old system.

Canada's immigration website crashed

The Government of Canada's immigration website crashed on Tuesday night as the US election results were rolling in.

The site went down about 10:30 p.m. ET on Tuesday, and there was intermittent accessibility after that.

About 9 ET on Tuesday evening, CNN announced that a number of key states in the election — including Michigan, Ohio, Virginia, and Florida — could all swing in Republican nominee Donald Trump's favor. (Virginia has since been won by Clinton and Florida by Trump.)

The top story on Business Insider has been "How to move to Canada and become a Canadian citizen."

Google search traffic to the Canada story began to surge.

BlackRock Says Market Turmoil May Cause Fed to Delay Hike

BlackRock Inc., the world’s largest money manager, said that market turmoil resulting from Donald Trump’s presidential victory may cause the Federal Reserve to hold off on an interest rate increase in December.

"Any Fed delay in raising rates is a near-term negative," according to a bulletin released by the New York-based company Wednesday.

Prior to the result, the Fed seemed poised to lift rates next month for the first time since December 2015. In the election’s aftermath, market volatility could stay their hand if it persists and financial conditions tighten. Uncertainty about how Trump will approach domestic and international policy could further obscure the economic outlook, and how that plays out has potential to delay or accelerate Fed policy tightening.

Other investors echoed BlackRock’s view regarding the Fed’s plans.

“The uncertainty and volatility following the U.S. election will, for now, reduce the probability of a Federal Reserve rate hike in December,” wrote David Kelly, chief global strategist for JPMorgan Funds, in a note titled “A Populist Victory.”

Oil dips on rising crude inventories, after Trump's shock victory

Oil prices dipped early on Thursday pulled down by rising U.S. crude inventories and as markets tried to interpret U.S. President-elect Donald Trump's surprise victory.

U.S. crude stocks rose by 2.4 million barrels to 485 million barrels last week even though refineries hiked output and imports fell, the U.S. Energy Information Administration said on Wednesday.

But the inventory data was overshadowed by Trump's election victory, which initially stunned markets and led Ian Bremmer, president of U.S. risk consultancy Eurasia Group, to predict that "the world is heading into a profound geopolitical recession."

Despite this, markets shook off initial post-election losses and recovered.


Reference: The Guardian, Business Insider, Bloomberg, Reuters


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