Latest Polls Show Harris while The yield on the 10-year US Treasury Note Fell 10bps
London, 4 November 2024
Donald Trump and Kamala Harris. Source: Wikipedia
Less confidence that Republican nominee Donald Trump will win tomorrow's presidential election caused investors to unwind the Trump trade that had gathered steam through October, causing the yield on the 10-year US Treasury note to drop 10 basis points from the four-month high reached in the previous session to hover around 4.3% on Monday.
In contrast to the modest favouring of a Trump victory priced by betting markets and creating uncertainty about the future of US policy, the most recent polls favoured Democratic nominee Kamala Harris to become the next president.
As a result, investors reduced holdings associated with Trump's campaign's pro-inflationary risks, such as high tariffs and an expansionary fiscal policy. The Fed is scheduled to drop interest rates by 25 basis points on Thursday and may also provide information on how policymakers perceive the appropriate level of restriction on US credit conditions. (Source: Trading Economics)
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