Global markets rallied after the Democrats secured control of both chambers of Congress in the US midterm elections, fuelling hopes of reduced policy uncertainty and easing geopolitical tensions. Oil prices plunged nearly 9% as investors bet on a faster resolution to the US-Iran conflict, while bond yields fell and equities surged on both sides of the Atlantic. However, technology stocks were mixed, with AI platform giants advancing, while semiconductor and data centre shares came under pressure. Tim Gagie, Head of FX & Precious Metals Advisory in Geneva, joins today’s show to talk about the impact of the Democratic sweep on currencies and metals.