Analyst: This U.S. election will not change the long-term macro market outlook

Analyst Michael Brown from Pepperstone stated that Trump's victory could shift market focus to reflation, anticipated tax cuts, and potential tariff issues. The initial market reaction might include a rise in the dollar and a fall in government bonds. Expectations for reduced regulatory burdens could boost the stock market, especially energy and defense stocks.

He said that if Harris wins, it may lead to a weaker dollar as hedge operations related to Trump are lifted, allowing the trade-sensitive foreign exchange market to "breathe a sigh of relief". Expectations for more expansionary fiscal policies may put pressure on government bonds while concerns about stricter regulations may weigh on the stock market. However, any decline might be quickly absorbed at lower levels with clean energy and tech stocks potentially performing better. This largely depends on the composition of Congress. For those wondering whether this election will change long-term macro or market prospects, Brown's answer is "absolutely not."