Treasuries extended gains for a second day after the Democratic sweep in the midterms raised hopes that the Trump administration's tax and spending plans could be contained. Yields on every tenor fell by at least 3 basis points, with the 10-year yield dropping to 4.84%, its lowest since Sept. 10, while the dollar gauge slipped 0.2%. Historically, 10-year yields have fallen an average of 18 basis points in the month after midterm elections that produced a split Congress or government. Franklin Templeton Institute said federal deficits and Treasury issuance are unlikely to disappear, while Federated Hermes noted that a divided government could block new legislation, an environment broad financial markets traditionally view favorably. The Treasury said it expects to keep auction sizes for notes and bonds unchanged for the next several quarters.
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DXYbondsmidterm electionsDonald Trump
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Related tickers and likely impact
DXY
▼ Likely negativeRelevance: low
| Market | Currencies |
|---|---|
| Close on 11/04/2026 | 101.53 |
| Change that session | -0.33% |
XAU/USD
▲ Likely positiveRelevance: low
| Market | Gold |
|---|---|
| Close on 11/04/2026 | 4,060.57 |
| Change that session | +3.32% |
QQQ
▲ Likely positiveInvesco QQQ Trust
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/04/2026 | 691.95 |
| Change that session | +0.97% |
SPY
▲ Likely positiveSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/04/2026 | 766.73 |
| Change that session | +1.64% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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