As some Americans begin voting early, Kurt Reiman, UBS Global Wealth Management ElectionWatch co-lead, joins Catalysts to discuss what a second Trump presidency could look like.

"We are seeing higher interest rates in the last couple of weeks. I think there is some concern that there may be a move higher in rates on a Trump presidency, especially initially, and that would be led by the back end of the yield curve," Reiman tells Yahoo Finance.

He explains that whatever administration takes the White House in 2025 will be handed a "good economy." However, he notes that the deficit remains high, and fiscal conservatives in the Republican party will likely want to see it addressed.

Reiman warns, "There's also the possibility that we don't see united government under Trump. We think it's a 1-in-3 shot at divided government under Harris. We think it's almost virtually going to be divided government, so that puts a little bit of a constraint on the ability of the White House to get its policies through the legislative branch."

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This post was written by Melanie Riehl