Here's Wall Street's answer from SocGen's Kit Juckes:
Good Morning. Bond and equity folks, at least, have made up their minds how to read the US election. Romney cuts taxes and spending and eventually replaces Bernanke with someone less dovish. This helps stocks, is bad for bonds; Obama raises taxes and healthcare, bad for stocks and therefore good for bonds.
And here's Wall Street's answer from Citi's Steven Englander:
Romney win is really not priced in. In the first instance we think the reaction will be concern that he will tighten on the macro side prematurely and lead to a broad sell-off in equities and fixed income, and buying of USD, but we think he will quickly back-off from the Ultra-view of where policy is headed.