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Data: BofA Global Investment Strategy, Bloomberg, Haver; Table: Axios Visuals

More asset managers are starting to consider the "rising probability of political 'blue wave'" with Democrats sweeping the White House and Congress in the fall, strategists at Bank of America write in a note.

Where it stands: The analysts note that Oddschecker.com is factoring in a 57% likelihood of a win for Joe Biden, while Real Clear Politics puts a 62% likelihood on Democrats taking the Senate. BofA's data found annualized returns for assets from 7 out of 21 "blue waves" since 1928. The analysts also cite the likelihood of a "Blue Deal" fiscal stimulus in 2021 that would include infrastructure, student debt forgiveness and health care spending, which would be positive for value stocks and banks.

Go deeper

Dion Rabouin, author of Markets
Oct 12, 2020 - Economy & Business

Markets ride the blue wave

Illustration: Eniola Odetunde/Axios

Markets got a shot in the arm from fiscal stimulus expectations last week, but it's not negotiations between House Speaker Nancy Pelosi and the Trump administration that's got investors' attention — it's the largesse of spending expected from Pelosi, President Joe Biden and a Democratic Senate in 2021.

What's happening: Trump's polling numbers have fallen through the floor since the first presidential debate on Sept. 29.

Updated 1 hour ago - World

17 U.S. and Canadian missionaries kidnapped in Haiti

Haitian soldiers guard the public prosecutor's office in Port-au-Prince this month. Photo: Richard Pierrin/AFP via Getty Images

American officials and authorities in Haiti are working to try and free 17 hostages from a U.S.-based missionary group who were kidnapped in Port-au-Prince over the weekend, AP reported Monday.

The latest: Christian Aid Ministries said in a statement Sunday, "The group of 16 U.S citizens and one Canadian citizen includes five men, seven women, and five children." The Ohio-based organization said they were on a trip to visit an orphanage when they were kidnapped Saturday.

China's economic growth slows

A worker assembles heavy truck engines in Hangzhou in eastern China's Zhejiang Province, on Monday. Photo: Long We/Costfoto/Barcroft Media via Getty Images

China's economy grew 4.9% in the third quarter of 2021 compared with a year earlier, the country's National Bureau of Statistics announced Monday.

Why it matters: The gross domestic product growth in the July-September period in the world’s second-largest economy marked the "weakest pace since the third quarter of 2020 and slowing from 7.9% in the second quarter," Reuters notes.