Democrats' Control of Congress Lowers Market Expectations for Rate Hikes

BlockBeats news, November 4 - The prospect of the Democratic Party taking control of Congress has led investors to believe that the resulting political gridlock in Washington will curb government spending, and that AI regulation may also drag down US economic growth, thereby reducing the need for further interest rate hikes. As a result, US Treasury prices rose on Wednesday. The 10-year Treasury yield fell about 5 basis points to 4.90%; the 2-year Treasury yield further slightly dropped to a near two-month low of 4.5458%. Boosted by reduced expectations of US rate hikes, the stock market rallied. (Jinshi)