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    • Bond market sell-off gains momentum as Trump receives Electoral College votes
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    Bond market sell-off gains momentum as Trump receives Electoral College votes

    Online Niel Posted on

    Tuesday night’s selloff in U.S. government debt gained momentum as the Associated Press reported that Republican Donald Trump won 188 Electoral College votes to 99 for Democrat Kamala Harris.

    Yields on everything from 2-year to 30-year Treasuries rose at least 10 basis points each, according to FactSet data. The 10-year yield rose 15 basis points to 4.44%, while the 30-year yield rose about 17 basis points to nearly 4.63%.

    Bond market participants “are acting like Trump is going to win,” said Peter Azzinaro, partner and senior portfolio manager at Florida-based Agile Investment Management. “I’m not saying that, but that’s the way the market is leaning. I think there’s a better than 55 percent chance that he’ll win,” he said, even if it’s still a little early.

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