Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on August 24, 2026 in New York City.
Angela Weiss AFP Getty Images
Treasury yields fell on Wednesday as investors sought refuge from a sell-off in equity futures triggered by a potential landslide victory for Democrats in the US midterm elections.
benchmark 10 year Treasury note yield last seen down 2 basis points at 4.9291%. At 30-year bond yield slid 1 basis point to 5.3093%, and short-term Produce 2 year notes withdrawn 1 basis point to 4.5996%.
One basis point equals 0.01%, or 1/100th of 1%, and yields and prices move inversely to each other.
Democrats are on track for a clean sweep, with the party winning at least the House and projected to win the Senate according to CNBC’s Election Desk.
The Associated Press reports that Democrats have taken Senate seats from Republicans in Iowa, Kansas, North Carolina, Ohio, South Carolina, Maine and Texas.
Stock futures fell sharply as election results were released. Contracts linked to the S&P 500 were seen 0.17% lower, and Nasdaq-100 futures fell 0.25%.
AI-related stocks, which led the bull market, pared overnight declines on fears that Democrats will slow the construction of data centers.