President Barack Obama will likely win a second presidential term in November, but the election's outcome for policy and investing will likely not be as decisive, according to a new research report put out by UBS Wealth Management Americas on Wednesday.

"This appears to be a very close call, and a lot's going to happen between now and Election Day," UBS Chief Investment Strategist and Head of Wealth Management Research, Americas Mike Ryan said at a presentation of the report in New York. "Our view is that it will likely will be a status quo as the likely outcome."

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