U.S. | Difficult road ahead for Biden administration, but light at the end of the tunnel

Preliminary results from the 2020 general election map a trajectory in which Democrats have narrowly flipped the “blue wall” states which went to Trump in 2016 and created a buffer by winning Nevada, Arizona and Georgia.

Key points

• Key points:
• Based on current vote totals, Biden has secured 306 Delegates and around 51% of the popular vote
• “Blue Wave” failed to materialize for Democrats, losing seats in the House and likely falling short of the majority in the Senate
• Higher probability of stimulus by 1Q21, but scope and magnitude uncertain
• Progressive agenda in doubt as Biden to rely on executive and bureaucratic actions for policy making

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