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We don’t need to tell you that the midterm elections were historic: The Democrats won bigger than even they imagined. But as the dust settles, an open question we are puzzling over is the market’s ongoing reaction to this massive political sea change. Democratic control of Congress — and control over a number of formerly red statehouses, like Texas and Iowa — will influence everything from the composition of the FOMC to data center construction. And what we’re seeing right now, with stocks like
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