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Treasuries Rise and Oil Tumbles as Democrats Sweep to Power in Congress

By ChordNews · First written (new coverage )

Stocks surge, oil tumbles after Trump's election rout
Image: channelnewsasia.com
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Summary

US Treasuries rallied and oil prices fell steeply after the midterm elections gave Democrats control of Congress. Bloomberg reports that the outcome contributed to the oil decline on the prospect of an end to the war in the Middle East, and that the political environment may limit the Trump administration's tax and spending plans. Traders were also awaiting the government's quarterly refunding plan. CNA reports that stocks surged and oil tumbled after what it calls Trump's election rout.

This continues an earlier story: US Treasury yields mixed as investors weigh midterm elections, jobs data and corporate earnings

Later: Treasuries Gain as Democratic Midterm Sweep Fuels Hopes for Curbing Bond Supply

Timeline

  1. Bloomberg

    Source ↗

    Bloomberg reports that Treasuries rose as Democrats swept to power in Congress, a political environment that may limit the Trump administration's tax and spending plans, while traders awaited the refunding plan.

  2. CNA

    Source ↗

    CNA reports that stocks surged and oil tumbled after what it calls Trump's election rout.

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