We know that more and more ballots are cast in early voting or by mail in America.

We know that many states don't start counting those ballots so after the polls close in November

8th.

That means in some cases we won't know the winner of the election until after the election.

Rates are going to continue to go up for the foreseeable future and in fact the market

has been increasing its expectation of where the things rates are going as you can see on

the last chart that I have which shows you back when back last August.

There we go.

Back last August you can see that the market thought rates would peak early next year at

about 3.25%.

We're actually even ratcheting that up.

Rates are now likely to peak more like about 5% and not until sometime in the latter part

of next year.

And this has real implications for Americans of course.

Mortgage rates are now over 7%.

That's another thing that politically we have to deal with.

Good for savers but very bad for borrowers like people who are trying to buy home.

Takes time to count all legitimate ballots.

An illegal and orderly manner.

It's always been important for citizens and democracy to be informed and engaged.

Now it's important for citizens to be patient as well.

That's how it's supposed to work.

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