The Stock Market Loves the Idea of McConnell Blocking Biden’s Plans

Just don’t expect anything to happen. Photo: Tom Williams/CQ-Roll Call,Inc. Stocks are up hugely today, and that makes a certain amount of sense: As the election-results picture has become more clear, investors see they are likely to get a Democratic president and a Republican-controlled Senate, which is favorable to them in a lot of ways.

That said, the bond market is sending a different signal about a different part of the economy. Yields on ten-year Treasury bonds spiked as the earliest returns came in, when there were higher odds of a Democratic sweep, and then sank as Biden tanked in Florida and a contested election outcome became more likely. The prospect of all-Democratic control had bond investors expecting a huge surge of government borrowing to finance another round of economic stimulus and coronavirus relief.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GameStop stock surge could be upending the stock market, Fundstrat saysThis week's GameStop surge could be upending the stock market as it leads hedge funds to reduce leverage, Fundstrat's Tom Lee says
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stock market crash: Jeffrey Gundlach likens market to tech bubble - Business Insider'The most dangerous type of market': Billionaire Bond King Jeffrey Gundlach says stocks are entering the difficult final stages of their cycle — and warns the market will 'crack pretty hard' in the near future horrible This goes with the traditional 10 year reset cycles of capitalisme. Nothing to worry about. Capitalism still has a few decades to live but some parts of it is crumbling like the idea of the American dream🥴🥴
Source: BusinessInsider - 🏆 729. / 51 Read more »

Options market shows investor jitters as the stock market slips from record highsTraders scooped up hedges against losses, particularly in the technology sector, just as the major averages rolled over on Tuesday. Pro The PE Ratio is still too high as far as I'm concerned Pro
Source: CNBC - 🏆 12. / 72 Read more »

Stock market live updates: Nasdaq futures fall, Tesla in bear market, Home Depot declinesNew for subscribers: Stock market live updates: Nasdaq futures fall, Tesla in bear market, Home Depot declines. Check out CNBCPro today. Pro Tesla buying bitcoin was the equity and bitcoin top.
Source: CNBC - 🏆 12. / 72 Read more »