11.06.24

'Trump Trade' Surges as He Claims Victory

by: Suzanne McGee; Carolina Mandl; Cynthia Kim

Investors bought U.S. dollars, bitcoin and stocks and sold bonds as Donald Trump claimed victory in the U.S. presidential election early Wednesday. U.S. stock futures hit record highs, the dollar surged and Treasury yields jumped, while bitcoin broke $75,000 for the first time, all moves flagged by investors as likely should Trump win over Democrat Kamala Harris. "Not only are markets positioning themselves for a comfortable Trump victory in the electoral college, but the prospect of a Republican-controlled Congress," said Matthew Ryan, head of market strategy at Ebury.

Read the full article on Reuters