Romney wins, iterest rate is higher; Obama wins, interest rate higher! Stocks will be lower.
If Romney wins, the yield on 30 year bonds will be higher due to two reasons: He may appoint a new Fed chairman whol will not print money; Also, he will run the deficits through the roof for ages to come and borrowing rates will be higher.
If Obama wins, yield will go higher because of the borrowing. Money printing may not help much.
So, in either scenario, I see yields rising to say about 4% level and not any higher. It will not rise any higher because deflation will set in and people will not lend to others except to the Government.
Said and done, Romney win will be very bad for the bonds as well as stocks.