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Treasury Yields Fall as Election-Night Nerves Find the Bond Market's Waiting Room
· New York time
Treasury yields fell Tuesday night as investors sought safety in bonds amid a sell-off in equity futures following Democratic midterm victories, CNBC reported. The move showed an early market response to the election before the new Congress had begun its work. Bond prices and yields move in opposite directions, so stronger demand can accompany a fall in yields. Investors looking for relative safety had an immediate place to put their anxiety, even while the political consequences of the result remained to be worked out. Markets are capable of making an assessment in minutes and revising it later, a pace that Congress is unlikely to match. Traders did not need to wait for committee assignments to express unease. They simply moved toward Treasuries and let the yield chart do the talking, a notably quiet way to join an otherwise very loud election night.
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