Dollar Stabilized Despite Political Unrest In Washington, T-Bonds Crossed 1% Mark After Months – Stocks Register

Dollar Stabilized Despite Political Unrest In Washington, T-Bonds Crossed 1% Mark After Months

On Wednesday, the political situation came to a sudden end in Washington, where the U.S. Congress convened to finally approve the election of Joe Biden for the presidential election on November 3. Any Republican politicians intended to contest the conclusions, which promised prolonged hearings overnight, but it did not bring into question the new president’s proclamation.

That was without betting on Donald Trump, who, by telling his major fans in Washington on Wednesday that he would never admit defeat, sowed confusion. He said, even calling on his followers to march to the Capitol, “We will never give up, we will never concede defeat.”

The message was so clear that pro-Trump activists were able to reach the U.S. Congress, leading to Capitol Police fighting and triggering the suspension of the session and the removal of workers and legislators in an emergency.

However, the outgoing president attempted to cool the situation later in the evening, sending a tweet urging his followers to “remain peaceful. No violence!” telling them that “WE are the party of law and order.” He then called for them to “go home now” while trying to protest a “stolen election.”

President-elect Joe Biden spoke to the press for his part, calling the violence on Capitol Hill an “insurgency” and asking Donald Trump to call for Congress to “the end of the siege.” “At this time, our democracy is under attack as never before since modern times,” the Political leader said.

Supported by the expectations of a stimulus plan, the 10-year T-Bond yield exceeded the 1 percent mark for the first time in months on Wednesday, closing at 1.04 percent on Wednesday (up 9 basis points).

Bank stocks that will benefit from an interest rate spike have risen on Wall Street, as has Bank of America (up 6.2%), JP Morgan (up 4.7%) or Morgan Stanley (up 6%), Goldman Sachs (up 5.4%) and American Express (up 3.6 percent).

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At 89.53 points, the dollar index finished steady (+0.10 percent), while the euro surpassed the threshold of $1.23 to $1.2327 (-0.26 percent), the highest against the greenback in nearly three years.

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