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Control of the US Senate is at stake with Tuesday’s dual runoff elections in the US state of Georgia. 

According to analysts at Goldman Sachs, a Democratic sweep would pave the way for an additional fiscal stimulus of around $60 billion on top of the recently enacted $900 billion. That would put more pressure on the US dollar and push treasury yields higher. 

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The greater fiscal stimulus would also likely mean tax increases to finance additional spending. However, an evenly divided Senate would approve only a fraction of the tax increases the Biden campaign proposed. 

Prediction markets see nearly even odds that Democrats win both seats, up from around 20% seen after the November election.