US | Post-election volatility leaves yields lower, stocks higher

Our Fixed Income Focus looks at how post-election volatility has left yields lower and stocks higher. As the reflation trade unwound, the Treasury yield curve flattened, but the S&P 500 gained 7%.

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• Treasury yields were lower this past week, and the curve was flatter following a volatile unwinding of a portion of the large pre-election steepening flows..
• Stocks soared, with the S&P 500 Index gaining more than 7% as of Friday afternoon, and the dollar index fell back to test the key 92 area September low.
• Swaps spreads to Treasuries were little changed on balance
  this week apart from a couple of basis points of widening for
  30-year swaps.