Five days have passed since the first presidential debate, and it’s now clear the race is tightening. The CNN/USA Today/Gallup poll, which had previously given President Bush an eight-point edge, now shows a 49%-49% tie.

There are several ways to look at the stock market’s rally since mid-August. You could say it’s a response to lower bond yields. A reaction to improved corporate earnings reports. Or maybe the market is simply celebrating President Bush’s bounce in the polls.