Odaily News Charlie McElligott, managing director of Nomura and cross-asset macro strategist for the Americas, warned in his latest report that in recent weeks, the market has over-hedged the hypothetical outcome of the election in which Trump and the Republican Party of the United States win both houses of Congress. It is possible that Harris's approval rating will be higher than expected and the election will be deadlocked. At that time, all types of assets will be at risk of reversal. Because in the next few days and the next two weeks, the U.S. Treasury will experience a large-scale issuance in the early stage of the federal government's fiscal year 2025, including the issuance of $70 billion in five-year U.S. Treasury bonds, $69 billion in two-year Treasury bonds, and $44 billion in seven-year Treasury bonds, the JOLTS report on the number of job vacancies in the United States, the latest refinancing announcement of the Treasury Department, personal consumption expenditures (PCE), non-farm payrolls (NFP), the U.S. presidential election day, and the November Federal Reserve Monetary Policy Committee FOMC meeting. (zerohedge)