U.S. Treasury yields fell on November 4 as investors sought the safety of bonds during a stock-market sell-off. The 10-year yield dropped about 5 basis points to 4.902%, while the 2-year yield fell 6 basis points to 4.55%; the 10-year yield was also reported at 4.93% after dipping to around 4.91%. Sentiment turned cautious after Democrats won control of both the House and Senate, raising expectations of fiscal restraint and legislative gridlock in Washington. The shift toward Treasuries was framed as a hedge against expected legislative paralysis.
The 10-year Treasury yield dropped to 4.902% as Democratic control of Congress raises expectations for fiscal gridlock and legislative stalemates.
Read the full storyBenchmark 10-year and 2-year Treasury yields pulled back as equity market volatility drove a rotation into safe-haven government debt during the election period.