U.S. Treasuries Rise as Investors Weigh Midterm Gridlock and $5,000 Plan

U.S. Treasury securities rose Wednesday as investors expected Democrats to control Congress, raising the prospect of political gridlock that could limit federal spending. Falling stocks separately pushed investors toward safer assets, including Treasuries. Investors were also relieved that a promised $5,000 payment to adult U.S. citizens might not be made. President Donald Trump had said the payment would go ahead if Republicans retained control of Congress. The plan was estimated to cost about $1.2 trillion, equal to 16% of the federal budget.

Source: TokenPost