Featured Market Data
Election Unease?
While the Fed did not meet in October, Treasury yields rose across the curve. The 5-year Treasury rose 60 basis points in October to close at 4.16% as market-based inflation expectations also increased. October began with a very strong employment number which knocked the market off the theme of further front-loaded Fed action. As the month progressed, the election took center stage and rhetoric on both sides of the aisle placed scrutiny on potential policy impacts on inflation as well as the national debt and deficit. Recent research from Wall Street firm MUFG shows the market is pricing in a Republican White House and divided government. The research indicated a Republican sweep could press rates higher while the Federal Funds rate and Treasury yields could move lower with Democrats holding the White House.
