At a glance
- The 10-year Treasury yield fell 4.7 basis points to 4.918% by 5am ET Wednesday.
- The two-year Treasury yield fell 3.7 basis points to 4.597%, and the dollar weakened 0.5% against a basket of six major currencies.
- Advisors with clients in digital assets should expect tighter scrutiny from a Democratic Congress, InvestmentNews reported.
Democrats flipped the House and Senate in Tuesday's midterms, InvestmentNews reported. The 10-year Treasury yield fell 4.7 basis points to 4.918% by 5am ET Wednesday.
The two-year Treasury yield fell 3.7 basis points to 4.597%, and the dollar weakened 0.5% against a basket of six major currencies. Oliver Faizallah, Raymond James's head of fixed income research, told The Guardian the result makes further significant fiscal expansion harder to deliver through Congress. That could support Treasuries by easing pressure on government borrowing, he said, but growth, inflation and the Fed still determine yields.
Advisors with clients in digital assets should expect tighter scrutiny from a Democratic Congress, InvestmentNews reported. Democratic lawmakers signaled oversight of tech and digital markets. Rep. Greg Casar said AI company CEOs should be called to testify under oath, and Rep. Robert Garcia, the presumptive next chair of the House oversight committee, said: "Lawyer up." CNBC's analysis of Federal Election Commission records found crypto, AI and online gambling interests put more than $377 million into races, most of it on the losing side.
Reported by the Products & portfolios desk from InvestmentNews, The Guardian and CNBC. Published . Corrections