Daily Archives: Nov 10, 2020 at 07:51 am EST

A New Burst Of Reflation Pricing In The Treasury Market

The bond market gave reflation a new run of consideration yesterday (Nov. 9) as Treasury yields shot higher. Was it a reaction to news over the weekend that Joe Biden won the Electoral College vote? Meanwhile, Pfizer’s announcement on Monday that an experimental COVID-19 vaccine is 90%-plus effective helped set reflationary hearts aflutter. It’s still too early to declare that a decades-long disinflationary trend has run out of road, but the possibility that regime shift has arrived, or is near, has traction… again.
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Macro Briefing: 10 November 2020

Key Republicans decline to recognize Biden’s election win: NYT
Pfizer vaccine trial points to breakthrough for battling pandemic: Reuters
Europe runs low on ICU beds, hospital staff as virus spread rebounds: AP
Trump fires Defense Secretary Esper: CNN
China’s inflation falls despite economic rebound: Reuters
The US dollar could weaken under a Biden administration, analysts advise: CNBC
German investor confidence slides for a second month: BBG
Armenia and Azerbaijan announce end of fighting over Nagorno-Karabakh: AP
Can the head of GAO hold up a transition to a Biden administration? BBG
10-year Treasury yield rises to 0.96%, highest since March: CNBC