The yield on the benchmark 10-year U.S. Treasury note hit 1% for the first time since March, after returns from Georgia’s closely watched runoff elections fueled bets that Democrats could win narrow control of the Senate.
By midafternoon in Hong Kong on Wednesday, the yield on the benchmark 10-year U.S. Treasury note was 1.019%, according to Tradeweb, up from 0.955% at its 3 p.m. ET close on Tuesday.
defeated incumbent Kelly Loeffler in one of the Georgia runoffs, according to the Associated Press, while a second race remained too close to call.
Yields, which rise when bond