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Forty two other states, including such “blue” political states as New York, Massachusetts and Michigan, disagree and for very good reasons. They want to prevent political operatives from abusing the system and prevent avoidable clerical errors by overwhelmed town and city clerks on Election Day. Each of these states requires that new voters register anywhere from two weeks to a month prior to Election Day.

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Similar analysis from HSBC shows that when emerging equities trade at current valuation levels of around 10 times forward earnings, a subsequent market rebound has tended to deliver returns of around 60 percent in the following year. Yields will be a formidable challenge especially for markets such as India and Turkey that have funding deficits, says John Lomax, HSBC’s head of emerging equity strategy. But valuations suggest much risk is already discounted, he adds.