Election Night Update
9:51 p.m. ET
Looking at asset classes, the moves tonight are very positive for Trump. Of course it will be a long night and a lot will change, but I saw a big move in markets when Decision Desk HQ is projecting that Trump is to win battleground state, North Carolina. The long bond sank. The 30-yr yield is up 15 basis points to 4.60%!
The U.S, Dollar Index is up +1.3%.
USD/JPY (+1.5%) soared more on the news…
(1m) – NC news at the green arrow
Bitcoin is Up +5.1% to $72,935.
There is a risk building for stocks as yields soar. Remember, when yields jump (10y) about 60 bp in a month, stocks don’t react well to that. Recall 2022.
For now, though, the early market moves are suggesting a goo night for Trump.