IEM Tracks Congressional Control

Stock market gains and declining gasoline prices are likely helping boost Republican odds for holding the House and Senate in some market-style exchanges. In the IOWA ELECTRONIC MARKET, a futures market operated for research purposes by economics professors at the UNIVERSITY OF IOWA, the latest trading data suggests a 55 percent probability that Republicans will keep control of the House, up from 37 percent just a few weeks ago. As for the big kahuna - control of both chambers of Congress - IEM traders are currently placing a 59 percent likelihood that Republicans will still be calling the shots in both chambers after the Nov. 7 midterm elections, up from 38 percent earlier this month.