The latest instalment in our ElectionWatch series, based on reports published by the CIO of UBS Global Wealth Management. The reports look ahead to November’s potentially seismic general election in the US and consider its impact across sectors, themes and geographies. In today’s edition, Dean Turner and Thomas Wacker consider the implications of this election for Europe. As the vote draws nearer, there are potentially two key issues coming to the fore for European investors, businesses and politicians alike: trade and defence.