Trump Wins 2024 Election; Markets Rally as Bond Yields Rise Amid Global Reactions

Nov 6, 2024, 02:48 PM

Former President Donald Trump has won the 2024 U.S. Presidential Election, reclaiming the White House after defeating the incumbent. Trump's victory was bolstered by a comfortable win in Nevada and other key states. The Senate has also flipped to a Republican majority, consolidating the party's control over the legislative and executive branches. Global leaders, including Israeli Prime Minister Benjamin Netanyahu and Palestinian Authority President Mahmoud Abbas, have extended congratulations to Trump on his return to power, though some expressed anxiety over potential global impacts. Market reactions have been swift, with the so-called 'Trump Trade' causing bond yields to rise as financial markets rally—a phenomenon dubbed the 'Trump Bump.' Analysts point to the repetition of previous market trends, noting that the 10-year and 30-year yield curve is identical to past patterns. Trump's administration is anticipated to introduce new personalities to political society as the White House turns red. Project 2025, a 920-page document outlining his detailed vision for his return, is set to influence every aspect of American life, promoting a far-right agenda.