Democrat Senate win drives stocks higher, bonds lower

  • 📰 Reuters
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 97%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Bonds nursed losses and stock markets rose on Thursday in anticipation of a big borrowing and big spending Democrat administration driving growth, following runoff elections that gave the party control of both houses of U.S. Congress.

FILE PHOTO: A man wearing a facial mask, following the coronavirus disease outbreak, stands in front of an electric board showing Nikkei and other countries stock index outside a brokerage at a business district in Tokyo, Japan, January 4, 2021. REUTERS/Kim Kyung-Hoon

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.8% to just shy of a record high, led by a 2.6% jump by South Korea’s chipmaker-heavy Kospi and a 1.8% gain by Australia’s miner-and-bank heavy ASX 200.“It’s basically a re-flation trade,” said Mathan Somasundaram, head of Sydney-based research firm Deep Data Analytics, who added that the Democrat sweep was unexpected by most investors and “changes a lot.

The U.S. dollar also sank as the result became clearer because currency traders reckon that big and growing U.S. trade and budget deficits will weigh on the greenback. [FRX/] “What give us a little bit of a pause is that the economy is still very fragile and I think it’s unlikely that Democrats are going to have as easy of a time as markets are trying to predict in passing some of these policies,” said Tim Chubb, chief investment officer at wealth advisor Girard in Pennsylvania.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Don’t be fooled by Wall Street , this is the fake break before the crash .

Watch renewable industries soar. Congrats TSLA

Every time a Republican is president we end up with a recession. It’s been this way for 50 years. With. Every. Single. Republican.

That always happens if stocks go down bonds go up. Has nothing to do with Democrats.

*Democratic

TheDemocrats are pro business!

Singapore Singapore Latest News, Singapore Singapore Headlines