(Bloomberg) — The world’s biggest bond market got hit as traders weighed the potential economic implications of the November US election after last week’s presidential debate between Joe Biden and Donald Trump.
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While many traders say it’s probably too early to start positioning or reading too much into election headlines, Wall Street kept a watchful eye on news regarding the presidential race. Just as it happened on Friday, Treasuries fell — with longer-term maturities largely underperforming shorter ones. Stocks edged mildly higher amid a rally in tech megacaps. The dollar rose.
Bloomberg News reported the Democratic National Committee is considering formally nominating Biden as early as mid-July to ensure he’s on November ballots. And a divided Supreme Court ruled that Trump has some immunity from criminal charges for trying to reverse the 2020 election results, all but ensuring that a trial…
