President Donald Trump and Democratic presidential candidate Joe Biden during the final presidential debate at Belmont University in Nashville, Tennessee, on October 22.
Jim Watson and Brendan Smialowski | AFP | beautiful images
The Treasury market is signaling that investors expect an obvious winner to become the president, without weeks of uncertainty, but it does not indicate which candidate it will be.
Yields have risen recently on expectations that more stimulus spending will be coming, especially if former Vice President Joe Biden wins and Democrats take over the Senate. Even so, more spending could come if President Donald Trump is re-elected and the market is adjusting to the expectation that there will be more debt to pay for stimulus spending.
But in Tuesday̵7;s trading, strategists said the market was trading on something different.