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.