The US political catalyst for stocks is over; the market rally probably isn’t

DO YOU believe in miracles? You should. Stocks worldwide, including those in Singapore’s benchmark Straits Times Index (STI), have just reaped the huge spoils of one – and they aren’t done climbing.

In September, I told you global stocks were approaching a bullish seasonal sweet spot – the nine months framing America’s midterm legislative elections. This has consistently been the most profitable stretch in stock market history. I call it the midterm miracle.

Indeed, the stock market didn’t disappoint. Sector skew and overblown China-fretting limited STI gains, but even it bounced off October’s low.